NFT Marketplace OpenSea will implement crime reporting guidelines
Popular non-fungible token (NFT) marketplace OpenSea announced changes to its crime reporting policy. Via their Twitter account, the team behind the platform addressed the issues with their policy on old stolen items and why it “damaged” users’ trust in the market.
OpenSea said it must implement a crime and stolen property reporting policy to stay in compliance with US law. However, some users were penalized when they unknowingly bought a stolen item.
The team behind the platform claims that they will introduce changes to these guidelines after reviewing community feedback. One of the first changes will require theft victims to file a police report within the first week of the incidents to prevent stolen items from circulating on the platform.
Otherwise, the item will continue to be traded freely on the market, and the platform will “help prevent false reports” of stolen items. In addition, users will have faster access to items that have been falsely reported as stolen.
The entire process will be simplified, the team behind the project said, to the benefit of users. OpenSea added the following about the future of the stolen items policy and the ways they planned to improve it:
In the long term, our main areas of focus will continue to be finding solutions that tackle this problem at its root. Work is already underway to better automate threat and theft detection, such as blocking suspect URLs earlier. Beyond that, we work closely with ecosystem partners to help prevent and counter theft, and build better educational resources to help users stay safe in the web3.
The team behind the platform praised the efforts made by crypto wallet provider MetaMask. The latter’s latest iteration implements new options for users to have more control over the number of tokens they want MetaMask to access.
Many attacks on NFT holders trick owners into giving third parties access to their funds, this new feature is aimed at preventing this attack vector or at least making it more difficult for bad actors to gain full access to users’ wallets.
NFT Marketplace OpenSea addresses community issues
In a own update, the team behind the platform clarified that their new crime reporting policy will not be applied retroactively. This is allegedly to simplify the process for everyone on the platform, especially those who have already completed the requirements from the old process.
Nevertheless, OpenSea provided the following email address for anyone wishing to dispute this decision: support.opensea.io. Overall, the changes have been welcomed by the majority of users.
OpenSea is taking a step to prioritize users and prevent bad actors from trading in stolen items while the platform regains user trust. The team behind the digital marketplace acknowledged:
Allowing the sale of stolen items and dealing in loot is not a sign of a healthy ecosystem…but neither is it a lack of trust from those of you who got us here.
