OpenSea has announced additional security features to help consumers avoid NFT scams

In addition, OpenSea has formed a specific moderation staff to handle review and moderation. In the future, it will deploy “important auto-detection” technology to address copyright concerns and other fraud vectors. Finzer believes that removing these items from the platform will improve its overall performance. It will also prevent unsolicited adverts and fraudulent items from appearing on OpenSea, which may be found on open blockchains.

On Tuesday, the OpenSea CEO tweeted that, like receiving an unwelcome email, it is possible to receive NFT transfers from people you don’t know.

“Recently, we’ve seen scammers use these transfers to entice people to click links to malicious 3rd party sites. Our latest Trust & Safety release helps prevent this new scam.”

The latest OpenSea security measures come as NFT demand is cooling and the cryptocurrency market is in a downward spiral. The arrest of Nathaniel Chastain, a former product manager at OpenSea who was accused with wire fraud and money laundering, demonstrates that the thriving economy is no longer being neglected by US law enforcement.

When the NFT boom began in 2021, OpenSea’s business surged rapidly. However, the platform’s efforts to recompense victims and curb theft have been met with dissatisfaction by many investors.