OpenSea temporarily disables features when contract migration is complete

The week-long period OpenSea gave users to migrate their nonfungible token (NFT) entries ends today. After the deadline, the platform announced that some features on the site are temporarily unavailable due to the migration.

On February 19, OpenSea pushed a new smart contract and urged users to begin migrating their NFT entries from the old to the new contract. The NFT Marketplace calls that the upgrade brings new features such as bulk entries and more descriptive signatures, while ensuring that all inactive entries expire.

Hours after the announcement, however, the platform reported phishing attacks that caused some users to lose their NFTs. After this, the OpenSea team launched an investigation to find out what happened. Devin Finzer, co-founder of OpenSea, insisted users affected to contact their support team.

NFT platform Mintable has promised to return NFTs stolen in the recent OpenSea phishing exploit. The team noted that some of the lost NFTs were listed on another marketplace called LooksRare. They decided to buy the NFTs and return them to their original owners, according to Mintable founder Zack Burks.

On Friday, the contract migration ends and the platform informed users that active listings on the website may be invisible and minimum prices may vary. However, the platform says this is only temporary. To protect offers, OpenSea has temporarily disabled bidding and purchases until the migration is complete.

Related: Helpful News: Collector Spends $488K Hitting Tubby Cats, NFT Vending Machine

Meanwhile, the blockchain community has been vigilant regarding NFTs. An alleged NFT scam allegedly targeting $20 million in digital assets was stopped by Youtuber Coffeezilla and community members. An anonymous user has published a detailed report exposing the existing claims against the team members carrying out the alleged NFT scam.

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