Understanding Security Issues in the NFT Ecosystem

This talk is about the systematic study of the emerging Non-Fungible Token (NFT) ecosystem that we conducted on 8 top NFT marketplaces. We first identify three actors in the ecosystem, and then present security and privacy issues and design weaknesses involving all those three actors. In this talk, we explain how we perform both qualitative and quantitative analyses. First, we discover the issues by interacting with the marketplaces, and then quantify the prevalence of those issues by sourcing trading data from the marketplaces. Many of the issues that we identified could lead to potential financial losses. This talk only scratches the surface by explaining a handful of the issues we found. To understand the threat landscape in-depth, please check out our paper.