Ledger introduces a new function for a speedy connection to OpenSea

Ledger introduces a new function for a speedy connection to OpenSea

Ledger, a hardware wallet creator, has included a feature that links the device directly to OpenSea and assists in purchasing, exploring, and collecting NFTs with Ledger security.

The hardware wallet is to be linked to OpenSea by a key

The Ledger official Twitter account revealed on Thursday that it could circumvent MetaMask and link a Ledger hardware wallet straight to OpenSea, a marketplace and NFT minting website. As of right now, Ledger is a connection option on OpenSea’s NFT marketplace, joining WalletConnect, MetaMask, Coinbase Wallet, Phantom, and BitKeep:

Ledger introduces a new function for a speedy connection to OpenSea - 1

According to Ledger’s release, “many more web3 apps” will soon have access to the same capability. This is Ledger’s second significant NFT development this week. The [Ledger] Market – Ledger Stax NFT collection, which allows collectors to exchange their NFT for a Ledger Stax hardware wallet, was released by Ledger on Monday. 

Of the potential 10,000 NFTs, 3,640 have already been sold by Ledger at the mint price of 0.22 ETH. The floor price for the collection is currently 0.1845 ETH on the secondary market, and it has traded 47 ETH on OpenSea.

OpenSea continues to expand direct Ledger Wallet support

OpenSea is set to expand the direct Ledger Wallet support. The operation is the most recent endeavor to strengthen the security of the OpenSea ecosystem, particularly in light of increased fraudulent activity on the platform. There have been numerous instances of fraud, including the selling of plagiarized works, on the well-known NFT marketplace since the year’s commencement.

Millions of money have been lost to criminals due to many OpenSea users falling victim to these unscrupulous operations. Several digital treasures worth hundreds of Ether (ETH) were stolen from users holding NFTs from well-known collections, including the Bored Ape Yacht Club (BAYC) and Cyber Kongs in January by an OpenSea user who took advantage of a bug. Due to a flaw, the user could purchase NFTs for much less than they had originally been listed for.

What is Opensea doing to stop NFT theft

Opensea has been ramping up its security after hackers launched a successful phishing assault on the platform in February, taking hundreds of NFTs from unwary users worth roughly $1.7 million.

Shortly after, a different group of nefarious characters seized OpenSea’s Discord server to advertise a fake NFT alliance with YouTube. Several “lucky” OpenSea Discord users were allowed to win a YouTube Genesis Mint Pass, which would grant them access to several intriguing benefits, as part of the hackers’ fake NFT collaboration with the video hosting platform.

Due to this change of events, Opensea introduced a new mechanism to proactively check shared URLs on OpenSea to determine whether they are harmful. Their technology will first check URLs for known harmful websites on a block list.

However, because fresh scams frequently surface on OpenSea before they are considered dangerous, they also simulated conversations and transactions with new URLs to spot nefarious activities like signature farming and wallet-draining. If scammers use OpenSea, their accounts will be suspended, their collections will be removed from the site, and their transfer requests will be denied.

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