From July 2021 to July 2022, hackers were able to steal over $100 million worth of collectible tokens (NFTs) from July 2021 to July 2022, analyst firm Elliptic reports.
On average, NFT theft brings cybercriminals $300,000 each. In July 2022, more than 4,600 tokens were stolen – this is a record figure, indicating that hackers do not lose interest in NFT even during the fall of the cryptocurrency market. In terms of the amount of stolen funds, May is the leader – during this month, attackers stole almost $24 million worth of tokens.
Analysts noted that in 2022, NFT theft through social media scams, including hacks into Discord servers, has noticeably increased. This year, hackers stole about 5,000 tokens worth $20 million in this way.
Interestingly, NFTs are not popular for money laundering – analysts estimate the volume of funds laundered through collection tokens at $8 million since 2017. However, often NFTs are bought with money received from cryptocurrency mixers. The volume of such sales amounted to $328.6 million.
“Although criminal activity makes up a small part of the total NFT trading volume, it still disproportionately affects the popularity and reputation of the industry. NFT markets should have a proactive approach to risk management,” the analysts concluded.
Earlier it was reported that the sportswear brand Nike became the leader in profit from its own collection tokens. The company earned $185 million, which was a world record.
Source: Bits
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