OpenSea is facing a lawsuit from a Texas man who had accidentally sold his NFT from the Bored Ape Yacht Club collection for 0.01 ETH. According to a complaint first covered by Decrypt, Timothy McKimmy believes that the marketplace knew about a bug that allowed bad actors to buy the NFT — which is worth approximately $250,000 — way below market price.
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McKimmy says he is the rightful owner of Bored Ape #3475. He also added that his NFT was "stolen" as he did not list it for sale.
"Instead of shutting down its platform to address and rectify these security issues, Defendant continued to operate. Defendant risked the security of its users' NFTs and digital vaults to continue collecting 2.5% of every transaction uninterrupted," the complaint says.
McKimmy emphasized that he has repeatedly tried to contact OpenSea regarding the matter but the company told him it is "actively investigating" the incident but failed to resolve the issue. McKimmy hopes with the lawsuit to protect the interests of other NFT owners, who also use OpenSea. He demands the return of his NFT and/or damages of more than $1 million. As of press time, the marketplace made no official statement regarding the matter.
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