Ledger adds new feature for quick connection to OpenSea

by
NFT
Ledger adds new feature for quick connection to OpenSea

Hardware wallet developer, Ledger, has added a button that connects the device directly to OpenSea.

Button connects hardware wallet to OpenSea

In a Dec. 15 tweet, the company stated the button will initially be available on Ledger Live, the native interface of the Ledger hardware wallet that serves as a safe gateway to the crypto ecosystem. Through the Ledger Live app, users of the Nano hardware wallets can conveniently and immediately access a number of cryptocurrencies, NFTs, and DeFi-based services.

The Ledger button will also shortly be accessible via Ledger Connect, a multi-chain browser plugin that simplifies linking Ledger wallets to Web3 applications right from the browser.

Moreover, the company indicated that it’s working on getting the button integrated on more Web3 platforms, including the Metamask mobile app.

OpenSea ramps up security to curb fraud and theft

The move is the latest attempt at making the OpenSea ecosystem more secure, especially in the wake of an increase in the number of fraudulent activities on the platform. Since the beginning of the year, the popular NFT marketplace has been riddled with cases of fraud, including the sale of plagiarized works.

Many OpenSea users have fallen prey to these nefarious activities, handing millions of dollars over to criminals in the process.

In January, an OpenSea user exploited a bug in the NFT marketplace to steal several digital collectibles worth hundreds of Ether (ETH) from collectors holding NFTs from well-known collections such as the Bored Ape Yacht Club (BAYC) and Cyber Kongs. The bug enabled the user to buy the NFTs at significantly lower prices than what they had been listed for at the time.

In February, hackers orchestrated a highly effective phishing attack on the platform, stealing hundreds of NFTs from unsuspecting users that were worth about $1.7 million.

Shortly thereafter, another set of bad actors took over OpenSea’s Discord server to promote a bogus NFT partnership with YouTube. The hackers advertised a fictitious NFT partnership with the video hosting website that promised several “lucky” OpenSea Discord members the chance to win a YouTube Genesis Mint Pass that would unlock a variety of interesting perks for them.

This turn of events has forced OpenSea to release new features to combat the rising rate of NFT fraud and hacking. This year, the marketplace has sought to invest heavily in safety and security in key areas, including preventing scams and theft, stopping IP hacks throughout the internet, reducing critical response times, and scaling up moderation and reviews.

Follow Us on Google News
Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.