#opensea

The Pudgy Penguins NFT collection surged past $100,000 ahead of the expected token airdrop. According to the NFT marketplace OpenSea, its floor price reached over $106,000 (27.4 ETH).

Anthony Shnayderman and Itai Bronshtein filed a class-action lawsuit against the NFT platform OpenSea, alleging that it has engaged in trading unregistered securities. The plaintiffs, who purchased several non-fungible tokens, including those from the Bored Ape Yacht Club collection, claim these assets have lost their value due to their illegal status.

Xterio, the gaming Web3 platform, has revealed its decision to create an independent ecosystem following OpenSea's refusal to charge author royalties on NFT resales. This new initiative will support content creators through the launch of an NFT marketplace, exclusive tokens, a rewarding mechanism, and diverse affiliate programs. Xterio's officials have said that the launch of this marketplace is imminent, expected within the following weeks.

Rose lost 40 rare NFTs worth over $1.1 million in a phishing attack. Kevin personally reported the hack on Twitter and asked his followers to avoid buying any Autoglyph and Chromie Squiggles. PROOF Vice President of Engineering Arran Schlosberg detailed the fraudulent scheme. According to him, "the technical aspect of the hack was limited to crafting signatures accepted by OpenSea's marketplace contract." They immediately used theft prevention tool Revoke Cash, but it was too late. PROOF stressed that users' assets were not affected, since the vast majority of assets require multiple approvals for access.

Two OpenSea users, Anthony Shnayderman and Itai Bronshtein, have withdrawn their lawsuit accusing the company of securities law violations. This decision came after the court permitted OpenSea's legal team to pursue arbitration.

Devin Finzer, CEO and co-founder of OpenSea, revealed on the social media platform X that the U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to the NFT marketplace, signaling that the SEC may pursue legal action against OpenSea.

NFT marketplace OpenSea is actively working on its platform's new version, despite losing its top spot and witnessing a downturn in the NFT market. This update includes a total redesign of the website and improved functionality for interacting with diverse NFT types.

Reports are surfacing that OpenSea, the NFT marketplace, has potentially suffered a data breach. Due to a vendor's security lapse, OpenSea's API keys may have been compromised, and users have been alerted via email. The best course of action? Replace those keys. Yet, there's been a noticeable absence of official comments from OpenSea on platform X.

OpenSea Head of Product Receives Prison SentenceNate Chastain has been sentenced to three months in prison for engaging in insider trades that amounted to $50,000. Chastain, aged 33, was found guilty of fraud and money laundering in a federal court in New York in May. This case marked the conclusion of what prosecutors deemed the first significant NFT insider trading case. Chastain profited by purchasing and selling at least 45 NFTs he was aware would be featured on OpenSea’s homepage. U.S. Attorney stated, “Today’s sentence should serve as a warning to other corporate insiders that insider trading – in any marketplace – will not be tolerated.”

Beginning on August 31, the popular NFT marketplace OpenSea will not charge royalties for NFT secondary transactions, signaling a change in artist earning policy. Previously, creators were able to set a commission of 2.5% to 10% and earn from every resale. However, with the new update, the creator fee is left up to the discretion of the buyer. For collections on non-Ethereum blockchains, the creator fee will only remain mandatory until February 29, 2024. After this date, the entire platform will make royalties optional.