Cryptocurrency

NFT marketplace shuts, citing 'rampant' fakes, plagiarism problem

2022-02-06 [vendor] Cent NFT platform [chain] ethereum
Primary Source ↗
Blockchain(s) Ethereum

Incident Details

Cent, the NFT marketplace which sold Jack Dorsey’s NFT of his first tweet for $2.9 million, stopped transactions on February 6. The founder explained that people selling NFTs of content they didn’t own, copies of other NFT projects, and NFTs resembling securities were “rampant” problems on the platform. “We would ban offending accounts but it was like we’re playing a game of whack-a-mole… Every time we would ban one, another one would come up, or three more would come up.”

Technical Details

Vendor / Product
Cent NFT platform

Timeline

  1. 2022-02-06 Breach occurred
  2. 2022-02-06 Publicly disclosed