More than $100 Million Worth of NFT Art was Stolen this Year

This week, analysts at London-based Elliptic published a new report showing that hackers managed to steal more than $100 million worth of NFTs in a year. The most expensive of the stolen NFTs was a token from the CryptoPunks project (#4324), which was worth $490,000 at the time of the theft (in November 2021).

Fraudsters stole $56 million worth of NFTs this spring alone. In early June, Yuga Labs’ NFT studio servers were subjected to a phishing attack. About $360,000 worth of assets were stolen as a result of the hack. The largest number of tokens (4,647) were stolen in July 2022. By August, the total value of stolen tokens and the number of thefts had decreased slightly. According to Elliptic analysts, this is due to NFT collectors hiding their assets because of the general downturn in the market.

Fraudsters continue to use various deception schemes, including phishing links, fake websites and pages on social networks, as well as supposedly free giveaways of tokens from famous NFT-projects. At the end of May, the page of digital artist Beeple was hacked, resulting in $438,000 for the attackers.