Marketplace bug sees at least $1 million of NFTs sold below market price

FILE PHOTO: A projection of cyber code on a hooded man is pictured in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration

LONDON (Reuters) - A bug in the largest NFT marketplace, OpenSea, allowed attackers to purchase at least $1 million worth of NFTs across multiple different wallets for significantly below market price, blockchain analytics firm Elliptic said on Monday.

A non-fungible token (NFT) is a form of crypto asset, which records the ownership status of digital files on blockchain. OpenSea is the largest marketplace for speculators and enthusiasts to trade their NFTs, with $4.8 billion worth of sales volume so far in January.