Over $100 Million Worth of NFTs Stolen Over the Past Year: Report
A new report by Elliptic reveals a staggering amount of theft across countless exploits and scams.
Aug 29, 2022 – 00:00
The extensive report published recently by crypto auditing firm Elliptic shows the methods used by cybercriminals to misappropriate and profit from the immense hype generated by NFTs, extolled for the benefit of wary consumers.
Between phishing, scam projects, stolen and plagiarized NFTs, market manipulation, and rugpulls, the total value of financial crime connected to NFT trading adds up to over $100 million, with an average of $300k for every instance of monkey business. So far, July 2022 has been the most profitable month for cybercriminals, with over 4600 NFTs stolen.