Analysis: The Magic Eden airdrop process is overly complicated and poses security and privacy risks

ChainCatcher news, according to CoinDesk, the NFT trading platform Magic Eden launched the 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 their existing wallet private key or create a new wallet linked to the original wallet, a practice considered to violate industry security best practices.

Security expert Ogle pointed out that the Magic Eden wallet backs up users' private keys and recovery phrases within the app, and there is no clear way to delete this information, which poses serious security risks. Additionally, addresses created in the Magic Eden wallet cannot be imported into mainstream wallets like Phantom using the standard 12-word recovery phrase, requiring an extra private key import operation, which increases the risk of users' assets being stolen.