According to CoinDesk, the NFT trading platform Magic Eden launched its token ME on December 10, and its unconventional claiming process has sparked widespread controversy in the industry. Users must download the Magic Eden-exclusive wallet and choose to import the private key of their existing wallet or create a new wallet and associate it with the original wallet, a practice that is considered to violate industry security best practices.
Security expert Ogle pointed out that the Magic Eden wallet backs up users' private keys and seed phrases within the app, and there is no clear information deletion path, which poses serious security risks. At the same time, the addresses created in the Magic Eden wallet cannot be imported into mainstream wallets such as Phantom using the standard 12-word seed phrase, and additional private key import operations are required, which increases the risk of asset theft for users.
