OpenSea API Users Alerted About Data Exposure, Arrington Exits NewCo Board, and Mixin Network Loses $200M in Security Breach
Summary:
OpenSea has alerted users about a possible exposure of their OpenSea API keys due to a security breach in a third-party provider. In other news, Michael Arrington has stepped down from the board of NewCo, and a police raid in Venezuela resulted in the seizure of Bitcoin mining machines. Furthermore, the cryptocurrency platform Mixin Network has undergone a breach, potentially losing approximately $200 million in assets. In legal news, U.S. based law firm Fenwick & West has dismissed allegations of involvement in fraudulent activities linked to the dead cryptocurrency exchange FTX, and Coinbase has secured Anti-Money Laundering compliance from Spain's central bank.
OpenSea, a marketplace for nonfungible tokens (NFTs), has alerted its users about a possible security meltdown stemming from one of its third-party providers. It appears the security flaw could have potentially exposed OpenSea API keys. Despite the security glitch, the platform does not anticipate immediate consequences for individuals trying to embed onto its platform.
An API key, or application programming interface key, is essentially a code that identifies a user or an application, often employed for authentication in software applications. OpenSea's own API allows developers to craft experiences using NFTs and data from its marketplace. Following the security breach, the NFT giant suggested that users deprecate their current key and promptly replace it with a new one, reflecting the same permissions and rate limits as the former. OpenSea confirmed that the old keys would become obsolete as of October 2nd, but did not specify how many users could be affected or what other data the breach may have compromised.
In a related development, Michael Arrington, founder of Arrington Capital, has declared he will no longer serve on the board of directors for NewCo. NewCo will eventually be owned by Celsius creditors and governed by Fahrenheit. Arrington disclosed that he asked for the change but refrained from providing specific reasons. Ravi Kaza, an investor and advisor to Arrington Capital, will take over Arrington’s spot on the board.
Meanwhile, a police raid at the Tocoro prison in Venezuela led to the confiscation of a range of illicit items, most notably Bitcoin mining machines. The raid was part of a larger operation against the prison, which was run by the Tren de Aragua gang and the seizure encompassed not just Bitcoin miners, but also rocket launchers, bullets, and grenades.
Cryptocurrency platform Mixin Network underwent a security breach on September 23, with the suspected loss of around $200 million worth of digital assets. Transactions involved with deposits and withdrawals were momentarily halted on the platform as a measure to contain the situation. Mixin Network assured that their recovery plan is pending announcement and a detailed explanation will be broadcasted by the founder as soon as possible.
U.S. based law firm, Fenwick & West, previously associated with now-shuttered cryptocurrency exchange FTX, has denied allegations in a class-action lawsuit against it. The firm asserted that it did not aid in any fraudulent activities conducted by the exchange. Also, Coinbase, a popular cryptocurrency exchange, procured an Anti-Money Laundering compliance authorization from Spain's central banking institution.
Published At
9/25/2023 5:08:07 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.