Following an attack on one of its service providers, the Magic Eden marketplace saw the display of certain NFTs replaced by explicit images or scenes from the series The Big Bang Theory. Since then, a patch has been applied to fix the problem.
A surprise for NFT owners on Magic Eden
Yesterday, some users of the Magic Eden non-fungible token marketplace were surprised to discover that the images of their NFTs had been replaced. If some were treated to scenes from the series The Big Bank Theory, others saw the original images overshadowed by photos with explicit characters.
Many collections were affected without apparent distinctions. In reality, this is not a Magic Eden hack per se, and impacted NFTs are indeed safe.
The problem came from a third-party service to the platform, on which the latter stores the images of the NFTs in cache, so as to improve the user experience by displaying them more quickly. It was this service provider that was attacked, and therefore sent the wrong images back to the owners of NFTs. Magic Eden explains that a fix was quickly appliedand that all you had to do was refresh your browser afterwards for everything to return to normal:
Hey guys our image provider, a 3rd party service we use to cache images, was compromised. Your NFTs are safe and Magic Eden has not been hacked. Unfortunately you might’ve seen some um, unsavory images. Make sure you do a hard refresh on your browser to fix it.
— Magic Eden 🪄 (@MagicEden) January 3, 2023
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The problem of storing NFT content
If this relatively comical episode turns out fortunately without consequences, it does, however, lead us to question the intrinsic value attributed to non-fungible tokens. For example, would the Bored Ape Yatch Club (BAYC) collection floor price still be 75-80 ETH, depending on sources, if all their illustrations were to disappear?
And for good reason, most of the time, only the smart contract to identify the NFT is truly decentralized, but its content, whether audio, video, or even photography, is often stored on centralized servers. A flaw on these servers could then, in a way, “bare” the NFTs, no longer allowing them to display this original content.
This is one of the problems of this sector, which is still in its infancy, that seek to solve certain projects . This is for example the case of PROOF, at the origin of the Moonbirds collection, which is working to develop solutions to host its NFTs totally on-chain.
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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