OpenSea to Introduce "3-Hour Hold Period" to Mitigate Theft-Related Risk

OpenSea will introduce a "3-Hour Hold Period" mechanism to mitigate theft-related risk. This mechanism requires sellers to not accept offers on certain items for 3 hours after some transfers and sales. Using DelegateCash, a crypto delegation platform, transfers between hot and cold wallets will not be affected.

OpenSea stated that speedy transfers and resales through offer acceptances can indicate suspicious activity. This timeframe helps OpenSea, the community, and theft victims detect stolen items while also lessening the chance that buyers end up with an item that's later reported stolen.

DelegateCash is a decentralized registry that associates users' trusted wallets. OpenSea will read from their on-chain registry so users can have a smooth buying and selling experience while staying protected.