As one of the largest NFT marketplaces in the world, OpenSea has enjoyed a lot of success, but it is also a constant target for scammers. Thankfully, OpenSea management is hitting back with his two new features.
These functions called Malicious URL detection When Deletion and theft detection and disablingdesigned to protect not only the platform but also the user.
Every twitter thread OpenSea’s Malicious URL Detection and Removal feature works by scanning URLs shared on sites. After these are scanned, they are cross-referenced against a blocklist of sites identified as malicious. If it matches the list, it will be blocked to protect you.
Thanks to algorithms that check for suspicious behavior such as signature farming and wallet draining, we can identify URLs that have not yet been confirmed to be malicious.
When it comes to theft detection and deactivation capabilities, it identifies and flags potential theft even before the victim has filed a formal complaint. Assets involved in flagged thefts are frozen to prevent thieves from moving and selling them. If the user confirms that it has not been stolen, it can be unfrozen.
As OpenSea explains, all of these features have been added to protect users, and much more effort is going on behind the scenes.
“Malicious URLs and theft detection help mitigate theft-related issues in OpenSea, but we know this problem requires an ecosystem-level solution. That’s why we’re working with marketplaces, wallet providers, and others to develop a comprehensive fraud detection and prevention system.’ says Thread.
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Tokoni Uti has written extensively on blockchain and cryptocurrencies over the years. Her work has been featured on sites such as BTCmanager and Blockchain Reporter. She has a degree in Corporate Communications.