OpenSea Is Facing A $1 Million Litigation

Famous NFT marketplace OpenSea is facing a $1 million litigation against a Bored Ape owner. A lawsuit was filed due to a listing error on the platform.

As it is known, OpenSea came to the fore with a listing error towards the end of January. Some Bored Ape Yacht Club NFTs affected by this listing error were sold well below the current base price. After this incident, a Bored Ape owner sued OpenSea for selling his NFT cheap. Leading NFT platform OpenSea is facing a $1 million lawsuit. Texas resident Timothy McKimmy is seeking $1 million in damages, in addition to the return of BAYC NFT #3745. The NFT sold was soon sold by the buyer for 99 ETH ($250,000), McKimmy claimed. Besides, McKimmy claims that OpenSea knew about this error but refused to stop trading for profit. He also says that he has tried to solve the problem with OpenSea many times. McKimmy stated that the company said it was "actively investigating" the incident, but did not do anything further.