OpenSea is Being Sued for $1M Over Bored Ape NFT Listing Bug

A man who used to own a Bored Ape NFT, has filed a $1 million lawsuit against NFT giant OpenSea. The former owner, named Timothy McKimmy, went to list his Bored Ape #3475, and a listing-bug caused it to sell for just $26, or 0.01 ETH. The former owner is now asking for $1 million in damages or the return og his valuable Bored Ape.

The unfortunate mixup happened earlier this month, on February 7, where the buyer who purchased Bored Ape #3475 quickly sold it for about $308,445, or nearly 99 ETH.

When OpenSea found out about the bug, they refunded $1.8 million to the users who were affected. But McKimmey is not satisfied with the outcome, and in his legal complaint he se said the following:

“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.”

Photo: OpenSea