Magic Eden Unverified NFT bug fixed after multiple sales

NFT marketplace Magic Eden has fixed an issue where unverified NFTs appear in verified collections. The exploit was the result of a UI bug.

Solana-based NFT marketplace Magic Eden has fixed a bug where unconfirmed NFTs would appear as confirmed. The team tweeted on January 5 that the impact was limited to 25 unverified NFTs sold in four verified collections. It resolved the issue and will refund affected users.

The team is also monitoring the situation to assess whether more injuries have occurred in the last 24 hours. Users have asked for it hard refresh their browsers. As it stands, no one can buy unverified NFTs on Magic Eden.

Reports emerged from the crypto community on January 4th related to fake NFTs. These individuals noted that attackers were intentionally going after high-value NFTs.

The root cause appears to be a user interface issue related to a new feature release released to the Snappy Marketplace and Pro Trade tools. The former displays recently listed and sold items on the screen in real time, while the latter allows them to see statistics in real time.

Errors in new functions led to an incident

The UI bug was present in both of these deployed functions. Specifically, it added unconfirmed NFTs to the general collections. Magic Eden states the problem,

“The technical explanation is that our activity indexer for these two tools did not check that the creator address is verified. Magic Eden’s smart contract remains secure and this incident was an isolated UI issue.”

It was also the case of users who saw pornographic images and images from the TV show Big Bang Theory on the platform. Magic Eden said a third-party image caching service was compromised. The team also emphasized that there was no hack and Magic Eden is safe for trading.

Magic Eden launches Loyalty Rewards Program

Despite this hiccup, Magic Eden has released new features and undergone development. The project released a loyalty rewards program called Magic Eden Rewards. This initiative rewards users with “Magic Points” based on secondary trading transactions on the platform. Benefits include discounts, NFT gifts and exclusive content.

A Polygon Launchpad game project called Shatterpoint was also launched on the platform recently. This free action multiplayer game is available on mobile devices. This game was followed by a racing game that was launched called Infinite Drive.