OpenSea, one of the popular NFT marketplaces, has announced its updated policy against theft on Twitter.
NFTs, which gained upward momentum in early 2021, lost their strength with the stagnation in the crypto money market in 2022. Still, it is in the focus of manufacturers and investors with its high popularity. It is actually a target of scammers as it is a digital artwork that can be easily copied. A new policy came from OpenSea as a solution to NFT theft.
OpenSea NFT Theft Moves To Police Reports
OpenSea, which produces a solution against NFT theft, started a tweet chain on Twitter and made statements on the subject.
1/ Can we address the 🐘 in the room? We want to provide you more clarity and transparency around our stolen items policy ↯
— OpenSea (@opensea) August 10, 2022
Saying that allowing the sale of a stolen item is prohibited under United States law, OpenSea has changed its policy to expand the use of police reports due to feedback from the NFT community.
With this newly announced update, the platform will prevent the sale of NFT if it sees a suspicious and complained transfer. The sale of these NFTs will be reactivated if a police report is not received within seven days. At the same time, the company is working on a number of improvements to streamline the process of re-enabling the trading features after the stolen items are recovered.
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