It seems like you can’t click on a newsfeed these days and not see a story about a heist, hack, or scam somehow linked to the largest online marketplace for non-fungible tokens (NFTs) in the world – Opensea. The latest news involves a Texas man who’s reported to have unknowingly “sold” one of the rarest NFTs on the market from the wildly popular and expensive Bored Ape Yacht Club collection.

The accidental sale was made for 0.01 ETH—the equivalent of around $26—and the Texan claims it occurred due to a vulnerability in the OpenSea software coding, which Opensea management and programmers knew about, that allowed deep discount sales to occur without the knowledge or consent of the asset owners.

Timothy McKimmy, a Texas federal court plaintiff seeks more than $1,000,000 in damages in the case against Opensea for negligence and breaching contract. He asserts that he is the original and current owner of Bored Ape #3475—one of a set of 10,000 ultra pricey primate NFTs. McKimmy claims the digital asset was stolen because McKimmy never offered it for sale.

McKimmy had failed to close a previous listing, which was used by a sneaky seller to get it. Even though the listing was not “active” it was still open – allowing the buyer to snatch the NFT for less than the equivalent of $30 and then quickly “flipped” for 99 , which was worth approximately $250 thousand.

“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,” the complaint states.

Plaintiff McKimmy further alleges that he has tried on numerous occasions to try and resolve the situation directly with Opensea, but has instead received platitudes regarding a vague “ongoing investigation” but the company has failed to take any direct action.

This lawsuit is OpenSea’s first in relation to the vulnerability. OpenSea attempted to address the issue by paying out approximately $1.8million in refunds to the dozens of people who were affected by this exploit in January. Opensea is not making any statements about the ongoing litigation.

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