OpenSea is facing a lawsuit for allegedly failing to ensure the security of its NFT marketplace

An NFT collector who inadvertently sold a Bored Ape Yacht Club NFT for $26 due to an OpenSea listing issue has filed a lawsuit asking for $1 million in damages.

A former Bored Ape Yacht Club owner is suing OpenSea after his NFT sold for just $26 on the marketplace. The floor price for the sought-after NFT collection was over $200,000 at the time.

Timothy McKimmy has filed the lawsuit against OpenSea citing a software bug. The suit is asking OpenSea to pay $1 million in damages for allegedly failing to ensure the security of the marketplace. On 7 Feb, 2022, Bored Ape #3475 sold for 0.01 Ethereum, around $26 at the time. McKimmy says the sale occurred without his permission and that he did not list the item. The buyer promptly sniped the item and flipped it for 98.9 Ethereum worth $308,445. McKimmy paid 55 Ethereum for the NFT in December 2021.

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