Sun. Jun 23rd, 2024

A Bug on Opensea Currently Allows NFT to be Bought Below Floor Price

By Tony Chimdiuto Jan25,2022 #NFT #opensea
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This bug on Opensea currently allows NFT to be bought below Floor Price

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@xHustler on Twitter attracted the attention of Opensea users of the latest bug that can exploit your NFT by selling it at an old listing price if after the NFT collections increases in floor price.

https://twitter.com/0xHustler/status/1485526989255577601?t=wpIrMLHSBeFKBI06_L1pnQ&s=19

Another user explained how transferring an NFT to a new wallet does NOT cancel your previous listing. When the Floor Price moons and you transfer your NFT back to that old wallet, now your NFT sells 50% below market value.

Let me explain if for example you buy a BoredApe Yacht NFT and list it on Opensea through your wallet. The NFT wasn’t bought and you transferred to a new wallet. 

You can practically list it again through the new wallet on Opensea, but then you’re listing on Opensea via the old wallet is still active. If for any reason you transfer it to the old wallet again, it will be sold at your listing price even if the Floor Price has gone up. 

It’s always advised to cancel any order after listing on Opensea if it doesn’t get filled and you want to move out your NFT.

Opensea is the most liquid NFT marketplace where the NFT flipping happens. It is built on Ethereum blockchain. 

About The Author

By Tony Chimdiuto

Diutocoinnews Admin. Send all publications to info@diutocoinnews.com.ng

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