With the closing of the week-long window for the NFT listings migration, OpenSea offered its users, the platform further revealed its decision to temporarily disable a few functionalities. 

Specifically, on February 26th, OpenSea reportedly put in efforts to roll out a new smart contract, calling for users to initiate the migration of their NFT listings from the old contract to the new one.

The NFT marketplace further shared that the upgrade will provide a variety of new functionalities, nominally bulk listings, and more descriptive signatures, and at the same time still guarantee that every inactive listing will expire.

However, hours after the announcement, the platform reportedly suffered from phishing attacks that resulted in the loss of NFTs for a few users. 

In a response to the attack, the team at OpenSea reportedly carried out investigative actions to identify what happened. Devin Finzer, the co-founder of OpenSea, urged affected users to contact the support team.

NFT platform Mintable made a pledge to return NFTs that were illegally acquired in the recent OpenSea phishing attack. The team noticed that a few of the NFTs lost appeared on a different marketplace dubbed LooksRare. 

Mintable reportedly made a decision to buy the NFTs and return them to their original owners, as revealed by Mintable founder Zach Burks.

On February 25th, the contract migration ended, with the platform telling users that listings that still have an active status on the website may not be visible anymore, and that floor prices may vary. Nonetheless, the platform assured that this status will be temporary only. 

In order to safeguard the listings, OpenSea temporarily disabled bids and purchases until the migration finalizes.

Meanwhile, the blockchain community adopted a vigilant stance regarding NFTs, with an alleged NFT scam believed to illegally acquire $20 million equivalent of crypto assets was stopped by YouTuber Coffeezilla and community members.