To claim aidrops, users had to download Magic Eden's wallet, a highly atypical process that industry insiders said threatened to breach security best practices.
To claim aidrops, users had to download Magic Eden's wallet, a highly atypical process that industry insiders said threatened to breach security best practices.The process of claiming aidrops was convoluted.The token initially soared but quickly tanked.
Magic Eden earmarked ME tokens for NFT traders as a reward for their past business. To get their airdrop, those traders had to either import the private keys from their qualifying wallets into Magic Eden's wallet app or create a new wallet on Magic Eden's app and link it to their old ones. The latter action potentially creates a privacy-busting link between previously unaffiliated wallets.
"It's a very bad idea to store this stuff" anywhere digitally, be it locally on one's own device or – even worse – remotely on a company's servers, said Ogle, a pseudonymous crypto-security sleuth. It's not clear exactly where Magic Eden is storing the wallet recovery information.
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