- OpenSea was sued for $500,000 by Robert Acres.
- Robert Acres lost his 2 NFTs, and those have been resold as well.
- Acres is accusing OpenSea marketplace for their slow action on scam.
OpenSea has a safety and fraud concern, and if one NFT marketplace account owner is correct, it is irresponsible in safeguarding its clients and guilty of extortion.
Robert Acres has become the target of an NFT hacking campaign. Acres had two NFTs seized in a malicious scam. He claims that instead of immediately assisting him in reclaiming his stuff and preventing resale by the criminals, as OpenSea is said to have done with Rose, the top NFT marketplace ended up shutting Acres out of his account for three months.
Robert Acres calculates his damage from being unable to sell his leftover NFTs on OpenSea for up to $500,000, and he is prosecuting the NFT marketplace – OpenSea is a trading name of Ozone Networks Inc – to recoup those losses.
Acres claims that after he reported about OpenSea’s slow reaction to the fraud, the platform shut him out of his account. There was a half-hour lag between OpenSea being notified of the robbery and the resale on the platform.
Given its inability to act to avoid a sale or purchase, it is plausible to assume that OpenSea did not have sufficiently strong procedures in place to react to such user notifications in a timely manner.
Acres claims that he was shut out of his profile for refusing to comply with claimed OpenSea requests. Acres says that, as a result of the lockout, OpenSea barred him from trading his 58 NFTs on the OpenSea platform.