Close Call For Rarible After Security Vulnerability Discovery

One of the research divisions at the cyber security software firm Check Point identified a vulnerability in the Rarible NFT marketplace. This flaw could have led to the firm’s roughly 2 million users losing all their NFTs.

Check Point was founded in Israel in 1993. The company claims that they spotted issues relating to malicious airdrops as early as October 2021.

Documents shared by Check Point Research (CPR) stated that they discovered that cybercriminals could send users a suspicious link to an NFT that executes JavaScript code that once clicked sends a set Approval For All request to the user.

If a user clicks on the link, the user grants full access to all their wallets on Rarible. Check Point stated that they immediately notified Rarible of the problem on April 5. Rarible acknowledged the problem and promptly fixed the flaw.

CPR stated that “If exploited, the vulnerability would have enabled a threat actor to steal a user’s NFTs and cryptocurrency wallets in a single transaction.”

According to CPR “A successful attack would have come from a malicious NFT within Rarible’s marketplace itself, where users are less suspicious and familiar with submitting transactions.”

CPR upped their focus on this type of scam after singer Jay Chou was the victim of a similar attack. They stated that “it gave us the incentive to investigate further.”

CPR urged all users to be extra careful and diligent when they approve any request on NFT platforms. Users were also urged to verify all transactions on Etherscan’s request tracker when they are unsure of things.