Shiba Inu Team Announces Investigation on OpenSea Hack

After the recent hack of OpenSea, the Shiba Inu team has called for calm among all Shiboshi holders while it investigates the incident.

A tweet through its official account stated the “Defense Breed is investigating an incident pertaining to Opensea and in relation to X2Y2.” The team further recommended that users disconnect their wallets from the platform and revoke the connection to their NFTs.

OpenSea Suffers “Another Attack”

This announcement comes after hackers stole millions worth of NFT from OpenSea. The world’s largest NFT marketplace has already been the subject of about two attacks this year. The CEO, Devin Finzer, described the latest one as a phishing attack.

Available information on the attack shows that the hacker uploaded the smart contract used for the attack almost a month ago. They sent emails telling people to migrate or log in to a new OpenSea smart contract using phishing websites. 

At this time we are reporting that our team has been monitoring the situation, in what appeared to be an exploit due to a sourced 'Phishing Attack', that has affected many users utilizing the @opensea platform.

Here's a more comprehensive look at the events that unfolded today.. https://t.co/TCR8dfCOS4

— Shib (@Shibtoken) February 20, 2022

Anyone who logged in unknowingly signed the private sale of their NFTs to the hacker. The hackers finally executed the smart contract on Saturday, allowing them to steal the NFTs.

The hackers have already sold some of the tokens with estimates that about $3 million worth of NFTs were stolen during the attack. Given that Shiboshi is also listed on OpenSea, it’s become necessary for the Shiba Inu team to call attention to the incident.

Shiboshi NFTs

Shiboshi is a collection of NFTs released by the Shiba Inu team in 2021. It launched the token through its ShibaSwap platform and allowed users to get more insight and involvement in the Shiba Inu ecosystem. The collection has 10,000 NFTs with a floor price of 1 ETH. 

Around 3,600 people currently own the tokens.

Shiboshi NFTs is just one part of the grand plan by Shiba Inu devs to create an encompassing ecosystem. Apart from the meme coin, the project already has Leash and Bone tokens. 

Furthermore, it recently announced plans for the Shiba Inu game in partnership with Playside studios. According to the developers, the game will be influenced by Shiboshi NFTs art, and the NFT will be useful within and outside the game. 

Shiba Inu is also working on its Metaverse project, called the Shibverse by the ShibArmy. The team intends to have more utility for the Shiba Inu token with all these plans. 

Currently, the token is trading at $0.00002735, with an 8% rise in 24 hours after recovering from its drop yesterday. While holders weren’t affected by the hack, the meme coin struggles due to market conditions.