Mintable is a technology leader in the NFT space. They were the first to develop batch minting and gasless minting processes, as well as enabling credit card purchases for NFT marketplaces. Now they are pioneering another kind of initiative.
The NFT marketplace is making sure that three victims of a recent OpenSea NFT theft get their NFTs back. Three stolen NFTs were found on LooksRare, a marketplace infamous for enabling over USD 10 billion in stolen NFTs sales and wash trading. Mintable purchased the fenced NFTs and is trying to identify the original owners so the NFTs can be returned to them.
Around US$1.75 million worth of OpenSea NFTs was stolen in the phishing scam on February 19.
Mintable founder and CEO, Zach Burks reportedly said, “This exploit was possible because of a bug on Opensea, and if OpenSea isn’t going to make it right, someone has to.”
He added that Mintable would be stepping up to defend the Azuki community as they understood that some NFT buyers sank a considerable percentage of their savings into NFTs — the stolen artworks were worth over US$140,000.
Mintable discovered the three NFTs while browsing marketplaces to acquire Azuki artwork for their Feb 20 flash sale — part of an ongoing floorbuster sales campaign selling popular NFT collections at below floor prices. The three recovered NFTs, Azuki #1180, #1178 and #4176, cost Mintable around Ξ13.35 each.
Keeping NFT Communities Safe
Mintable’s charitable gesture is a reflection of the company’s commitment to supporting communities in the NFT space and creating a safe platform for NFT buyers and holders to conduct their transactions with peace of mind.
While Mintable is now in possession of the stolen NFTs, they have yet to identify the rightful owners. Representatives of the Azuki project have been contacted to assist in the search. Once the NFTs are returned, Mintable hopes to keep communication lines open to make sure that the NFTs remain secure.
Web3 is an ever-developing landscape that comes with new security risks. Users must be on guard and stay informed of potential threats. Mintable may have been able to recover these three NFTs, but over US$1 million worth of NFTs has yet to be found.
Mintable is a utility-focused marketplace, with every feature dedicated to improving the NFT trading experience. As the top technology platform in the space, Mintable has pioneered gasless minting, batch minting, and credit card purchases of NFTs. In 2021, Mintable announced the backing of a list of high-caliber investors including renowned venture capitalist and television personality, Mark Cuban; Sound Ventures, a venture capital firm founded by Ashton Kutcher and Guy Oseary; and TIME Ventures, the investment fund for Marc Benioff. To date, Mintable has sold and auctioned works by Grammy-Award-winning artists, 20th-century avant-garde artists, and various high-profile artists and celebrities.
In addition to the Marketplace, the Mintable ecosystem also includes Mintology, an NFT solutions provider for enterprise, and Mintable Go!, an investment fund dedicated to driving innovation in the NFT ecosystem.
Keep up to date with Mintable on their official platforms: