• OpenSea error destroys $100,000 worth of NFTs, including historic ENS names

  • A bug in the OpenSea marketplace caused at least 42 NFTs to be sent to a burning address.

    This meant they could no longer be moved and were effectively destroyed.

    A bug in OpenSea, the NFT marketplace, accidentally destroyed at least 42 NFTs, worth at least $100,000.

    The issue was first raised by Nick Johnson, the lead developer of the Etherium Name Service (ENS), who noted that when he transferred an ENS name – in the form of NFTs – it went to a burning address. This meant it was accidentally sent to an uncontrolled address and could no longer be moved.

    ENS is a service that lets you associate a blockchain address with a domain name. It’s designed to make it easier to send transactions to human-readable names, rather than complex blockchain addresses.

    Regarding the burned ENS name, Johnson said that it was the first ENS name to be registered. The name was rilxxlir.eth, a palindrome, and while Johnson registered the name with his personal funds, it was held by an ENS account. In order to transfer the ENS name under his own account, he went to OpenSea and made the transfer. At that point, it was sent to the burning address by mistake.

    “After a frantic call to OpenSea, found out I was the first and only victim of a bug introduced on their transfer page in the last 24 hours that affected all ERC721 transfers to ENS names. rilxxlir.eth ownership is now permanently burned.” He tweeted.

    Since Johnson is still in control of the ENS name, he is still able to modify it – in terms of the blockchain address to which the ENS name is linked. He just can’t move the name itself.

    Johnson then received further reports from others similarly affected and put together a list of 32 affected transactions involving 42 NFTs. most of the NFTs were on the ERC-721 standard, but there were a few using ERC-1155. he checked the floor price (the lowest price on the market) for each NFT and the total came to $100,000.

    What's your reaction?