A security weakness has been discovered in the Rarible NFT (non-fungible tokens) marketplace, according to a recent research from Check Point Research. The security hole was quickly reported to Rarible, who acknowledged the problem and implemented a remedy.
EIP-721, the Non-Fungible Token Standard, allows smart contracts to define a standard API for NFTs.
“This function simply defines who is authorized to control all of your tokens/NFTs,” according to CheckPoint researchers. “It was primarily created for third parties like Rarible/OpenSea, etc., to control the NFT/tokens on behalf of the users.”