An NFT trader from Texas has filed a lawsuit against trading platform OpenSea, saying the company was responsible when his Bored Ape image was stolen from his crypto wallet. The trader is asking for the return of his ape and $1 million in damages. 👏🏾
Timothy McKimmy filed a suit last week in the U.S. District Court for the Southern District of Texas, alleging that OpenSea knew about vulnerabilities on its platform. The NFT in question, Bored Ape #3475, has “significant value” according to McKimmy’s lawsuit, despite the fact that it’s still unclear what kind of “ownership” someone can claim over an image simply because a receipt for it has been registered on a blockchain. ⛓
Defendant’s security vulnerability allowed an outside party to illegally enter through OpenSea’s code and access Plaintiff’s NFT wallet, in order to list and sell Plaintiff’s Bored Ape at a literal fraction of the value (at .01 ETH). Essentially, OpenSea’s vulnerabilities allowed others to enter through its code and force the listing of an NFT.
