The official wallet of the non-fungible token (NFT) platform LiveArtX was hacked, and the Seven Treasures NFT series released by it dropped in price by 84% in 24 hours.
This was reported by Chinese journalist Colin Wu. He also recalled that LiveArtX previously received more than $4.5 million in strategic investments led by Animoca Brands, BNB Chain Fund and KuCoin.
NFT platform LiveArtX said that its official wallet was stolen, and the Seven Treasures series NFT released by LiveArtX fell by 84% in 24 hours. Previously, LiveArtX has received more than $4.5 million in strategic investment led by Animoca Brands, BNB Chain Fund and KuCoin.
— Wu Blockchain (@WuBlockchain) October 17, 2022
At the time of publication, there were no new LiveArtX announcements on Twitter or Telegram. The platform team stated that they are making every effort to reduce the negative effects of hacking.
We are doing all we can to resolve the issue with the compromised wallet and we will keep the community updated.
— LiveArt (@LiveArtX) October 16, 2022
Metamorphic artist Huang Yuxing’s NFT Seven Treasures is described as “a generative art project that takes you on a journey through nature.”
A collection of 997 non-fungible tokens was released in September 2022. Back on October 15, its average price was 1.14 ETH (about $1,500), but at the moment the price has dropped to 0.36 ETH.
Previously, Oscar winner Anthony Hopkins sold out his debut non-fungible token collection of 1,000 NFTs in less than 10 minutes.
Source: Bits
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