A Step By Step Guide To Report Stolen NFT (2024)

FAQs

A Step By Step Guide To Report Stolen NFT? ›

If your item is displaying a “suspicious activity” or “under review” alert and you believe this item has been flagged incorrectly, please submit a ticket to our User Safety team, selecting Fraudulent Activity and Other Safety & Security Concerns → Report suspicious activity warning on my NFT.

If your item is displaying a “suspicious activity” or “under review” alert and you believe this item has been flagged incorrectly, please submit a ticket to our User Safety team, selecting Fraudulent Activity and Other Safety & Security Concerns → Report suspicious activity warning on my NFT.

If you believe you have been a victim of a scam involving NFTs, please call our Cybercrime and Identity Theft Bureau at 212-335-9600. You can also submit tips anonymously to our Office through Signal, Wickr, Telegram, or WhatsApp at (347) 463-2198.

Anyone can mint an NFT, even if they don't own the copyright to the content they're minting, so people can take a screenshot of other people's artwork and sell it as their own. And there's no way to really stop it from happening.

Phishing scams are a common way that hackers gain access to the information and private keys needed to steal someone's NFTs. A good rule of thumb is to avoid clicking on links altogether.

Whenever an NFT is flagged as potentially stolen, it will be frozen on OpenSea, which means it can't be resold there. OpenSea will also email the previous owner of the item to check whether it was stolen.

In much the same way, a person who right-clicks and saves an NFT might be committing copyright infringement, but it is the artist, not the owner of the NFT, who will have to take legal action to stop them.

Let's set the record straight—screenshotting NFTs (non-fungible tokens) is not illegal. However, while NFTs are accessible to anyone online, it doesn't mean you have the right to create a copy and claim ownership. In fact, screenshotting NFTs is illegal if you try to sell them or pass them off as your own.

Since this transaction is both available to anyone and can't be altered, it's easy to identify the true owner of that NFT. Even if someone else takes a screenshot of that image file, they don't have the blockchain transaction to prove that they own the NFT.

Using intellectual property without the owner's permission is called IP infringement, and an NFT creator can be sued for that.

Has anyone sued over an NFT? ›

A federal court last Friday dismissed a lawsuit that questioned the ownership rules around an NFT called “Quantum,” which Sotheby's sold for $1.47 million in 2021 as the first of its kind. The legal battle had become part of a larger effort to define rules of ownership for digital artworks.

NFTs are pictures, without a doubt, but they have a smart contract underneath. That blockchain contract gives them their inherent value. So, screenshotting an NFT while giving you a picture has no contract, meaning no worth. One thing about the blockchain is the confirmation of ownership.

Some NFTs create copyright trouble by using artworks stolen from artists, or famous works that the NFT creators have no connection with and no license to use from. Copying these works as part of the NFT marketing (e.g. for OpenSea listings) can itself be copyright infringement.

4. Copyright Your Art. It's also important to understand that in some cases, NFT thieves will just create digital copies of your artwork and start offering it online. The best way to protect against this is to copyright your art, thus preventing its illegal distribution or reproduction.

Non-fungible tokens are unique, meaning that it is impossible to copy them. If you try to duplicate an NFT, you will end up with two different tokens, each with its own unique set of attributes. This is what makes them so valuable; they cannot be replicated and therefore are rare and unique.

An NFT seller (assuming the NFT seller is also the owner of any intellectual property rights in the underlying asset) can, of course, transfer those intellectual property rights to the buyer. However, to do so, the intellectual property must be assigned in writing.

Another way to think about proving you own the NFT is by signing messages to prove you own the private key behind the address. As mentioned above, your private key is proof-of-ownership of the original. This tells us that the private keys behind that address control the NFT.

An NFT's full transaction history is permanently stored on the blockchain and visible to anyone. As a result, you can quickly check the blockchain to confirm who actually owns an NFT if someone claims to do so. That's not to say that you can't screenshot an NFT—because you can.

The ownership of the NFT lies with the one who mints it. So, in practice, the owner of the NFT is not necessarily the Author of the Works. However, minting of an NFT of Works which someone else has the rights over will essentially amount to stealing of the Works and will be considered an infringement of copyright.

Those grant you commercial rights in the artwork of the NFT you purchased, meaning that you have the right to make and sell products like T-shirts, mugs and posters using the artwork that you have. However, commercial rights come in a lot of different forms.

Can someone hack your wallet with an NFT? ›

If the biggest names in crypto and NFTs can get hacked, so can you. Despite the growing awareness around these scams, everyone from NFT tourists to purists still stands a massive risk of being swindled out of their assets by bad actors.

You can technically screenshot someone's NFT and even upload that image as your profile picture. However, platforms like Twitter connect to your wallet to verify NFT ownership, and if users tap on your NFT profile pic, they can learn more about your collection and confirm you actually own the NFT.

However, you maintain all commercial rights to the artwork underlying the NFT. That means you can still market your art by making prints or merch, or even license it.

NFTs aren't environmentally friendly. Most NFTs trade on the Ethereum network. This means that each transaction uses a mining process to confirm the trade and transaction. The energy used in mining concerns many who feel that it can add to carbon emissions if non-clean energy sources are used.

Because NFTs are digital and have no physical form, they may be seen as intangible assets. As such, they may not be covered by traditional property laws. This could mean that, if something were to happen to the NFT – for example, if it was hacked or lost – the owner may have no legal recourse.

Artists also have to look out for phishing attacks from people who want to hijack their accounts to push NFTs. Another artist told us that these schemes are “generally why most artists block NFT accounts on sight.”

Yes, definitely! As already stated, any type of digital art can be turned into an NFT. So, if you have a photo that you think is worth selling, you can create an NFT for it. NFTs can be purchased the same way as photographic prints in the traditional market.

Technically speaking, yes, you can sell your NFT on different marketplaces. But it's not the best idea and will certainly ruin your reputation.

All hosting companies do this and a part of hosting services' analytics. The information collected by log files include internet protocol (IP) addresses, browser type, Internet Service Provider (ISP), date and time stamp, referring/exit pages, and possibly the number of clicks.

NFT IP Rights

This belongs to the original creator of the artwork, who may not necessarily be the seller of the NFT. The owner of the NFT does not automatically own any of the copyright associated with the subject matter itself. The owner of the NFT only owns the NFT itself.

What kind of security does an NFT have? ›

The best way to store your NFTs is through a hardware wallet since it's offline. Alternatively, you can use a software wallet or an IPFS. Best practices for securing your NFT assets include using a robust VPN and an antivirus. You should also conduct extensive research before investing in NFT projects.

To qualify for a refund, your attempted transaction should have occurred within the last 30 days. Filter out the attempted transactions, and then share them with OpenSea's customer support by raising a ticket.

With the Watchlist feature, you can track the collections you care about on OpenSea.

If you want to contact OpenSea for help, you can email their support team which is contact@opensea.io.

Navigate to the item page for the item you'd like to delete. In the upper right corner, click the Edit button. Scroll down to the bottom of the page and click the Delete item button.

Canceling listings

To cancel a listing, navigate to the item and click Edit listing at the top of the page. An Edit listing window will appear. Click Cancel all listings. Canceling listings requires a gas fee to make the listing unfulfillable by other users.

You can use the bulk cancelation feature to cancel all active Ethereum listings and offers on OpenSea. This does not cancel listings or offers on Polygon or Klaytn.

Our customer support team will review your request, and you'll receive a response within seven days. You can also see the review decision in your profile settings. If your account is verified, your username, email address, and social connections fields in your profile will be locked for security purposes.

OpenSea fees

If a listing or an offer was created using OpenSea, the 2.5% fee will apply. For a limited time, you can create OpenSea listings and offers through OpenSea Pro with 0% OpenSea fees on most of your favorite collections.

Why is my collection hidden on OpenSea? ›

To protect our users, OpenSea will generally move a transferred NFT to the Hidden tab if we think that it might be suspicious. In this case, the item won't be in your Collected tab and the transfer won't appear in your activity feed.

Where is OpenSea's headquarters? OpenSea's headquarters is located at 105 East 24th Street, New York.

Store Your NFTs in a Non-Custodial Wallet

A non-custodial wallet is a wallet where you're in charge of the private keys that protect your NFTs and your cryptocurrency. A hardware non-custodial wallet offers greater security than a custodial wallet, which simply means storing your NFTs on an exchange or a marketplace.

If the item doesn't sell, it can be deleted and re-minted, but that costs more gas fees.

Transferring NFTs using OpenSea

Select the NFT you'd like to transfer. On the bottom of the page in the action bar, click the Transfer button. Enter the recipient's wallet address (ENS domains are also accepted) and click Transfer. Confirm the signature request in your wallet.