Did you know that there were some 4,145 publicly disclosed breaches that exposed over 22 billion records in 2021? 2022 has been no different, except a recent breach has occurred within one of the largest NFT marketsplaces. This begs the question, do data breaches have an impact on NFTs and how they operate?
“The OpenSea data breach is a continuing example of web2 style platforms’, centralized cloud computing, inability to protect user’s data from abuse and the shadowy side of our data driven economy. OpenSea’s hack in this case comes from technologies wholly unrelated to NFTs, but could entirely benefit from their use in the technology stack, because NFTs can guard against these very same exploits,”says Web3 expert Connor Borrego.
The reality is that this is the new generation of technology and the general public is still in its infancy of understanding the benefits that come with it. What we have now with NFTs could change entirely how we react to security breach attempts and how we go about protecting our data.
Borrego goes on to say that, “The reality of the breach for the list of users unfortunately included will likely be sold to organizations with more marketing related aims, but the concern around phishing scams for the 1.8M NFT holders who’ve made a purchase on the platform is very real as a result of this. I don’t think this news will impact the NFT community or the usage of platforms like OpenSea by its core users, but it could be a deterrence for would be NFT users from trusting the particular platform and the technology more broadly,”
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