Security issues and endless copycat listings are rife, but the platform’s attempt to stop them is angering everyone.
OpenSea has been paying the consequences of its lightning growth. Launched in 2017 with backing from startup accelerator Y Combinator, as of March 2020 the company counted five employees when it suddenly found itself at the epicenter of a global NFT frenzy. “OpenSea was really at the foundation of the NFT industry, and they were just not able to support this crazy growth,” says Gauthier Zuppinger, cofounder of NFT data provider NonFungible.
Yet OpenSea’s attention to detail didn’t seem to extend to security, arguably the most crucial part of the platform. The company hired its first chief security officer in December 2021. Before that, OpenSea’s Mack says, the platform’s security was overseen by vice president for engineering Dan Roelker, who had worked for DARPA’s cyberwarfare program from 2011 to 2014, according to his LinkedIn profile. Roelker himself joined the company in August 2021.
Mack, the OpenSea spokesperson, says that the company’s “policies prohibit plagiarism and copyminting, which we regularly enforce in various ways, including delisting and in some instances, banning accounts,” and that OpenSea is developing technology—including automated moderation, image recognition, and enhanced search tools—to better address the problem.
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