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28 Oct 2022 Industry News

Blockchain analytics firm reveals $100 million worth of NFTs stolen in last year


A new report from blockchain analytics firm Elliptic has revealed that over $100 million worth of NFTs (non-fungible tokens) were stolen in the past year. While this number may seem high, it represents only about 0.65% of the total trading volume for 2021. However, the true amount of stolen NFTs is likely to be even higher, as many cases may go unreported or undetected.

While the blockchain itself is generally difficult to hack, NFTs are often stolen through phishing scams or by hackers identifying exploitable code in websites. It's important for NFT investors and collectors to be aware of these threats and take steps to protect themselves, such as using strong passwords and being cautious of any suspicious emails or links.