Ledger, a hardware wallet company, has introduced a new button for smooth and fast connection to the Ethereum-based NFT marketplace, OpenSea. The company noted that the button would premiere on Ledger Live, the interface of the firm’s hardware wallet.
Meanwhile, the Ledger Live app is a gateway for crypto holders to access DeFi-based services and NFTs and perform token swaps easily. According to Ledger, the button will later expand to its Ledger Connect.
The Ledger Connect is a browser plugin that allows users to link their Ledger wallets to Web3 apps directly from the browser. Additionally, the wallet firm said it is working on integrating the button on more Web3 platforms like the Metamask app.
Ledger’s attempt is part of other companies’ attempts to secure user connections to OpenSea. This comes after the increased rate of NFT scams and theft in the sector.
Since the start of 2022, several NFT users have lost their NFTs to fraudsters and hacks. Also, many industry players have criticized OpenSea for enabling fraud and sales of plagiarized NFTs.
Moreover, several OpenSea users have lost their NFTs worth millions of dollars to bad actors and hacks. For example, in January, an OpenSea user stole digital collectibles from the platform by exploiting a bug in the platform’s smart contract.
The bug allowed the user to purchase the NFTs at lower prices. Some NFTs stolen include Cyber Kongs and the Bored Ape Yacht Club (BAYC).
OpenSea Tightens Security On Its Platform
Earlier in February, the Ethereum-based NFT marketplace was a victim of a phishing attack. Hackers looted hundreds of NFTs worth over $1.7 million from users.
Shortly after the attack, OpenSea suffered another deadly blow. Hackers took over the NFT marketplace’s Discord server and started promoting a fake NFT collection through YouTube to dupe users.
The attackers promised members of OpenSea Discord an opportunity to win a YouTube Genesis Mint Pass. The Pass would unlock various interesting perks for those who win it.
As a result of these events, OpenSea released several features and upgrades. Thus, its platform would have increased security to protect users and prevent NFT theft and even fraud.
In 2022 alone, the NFT marketplace has invested greatly in security and safety. Key focus areas include boosting reviews, reducing response time, and preventing IP hacks. OpenSea also integrated several features to make the platform attractive to NFT creators and buyers.
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