$1.73M Worth of NFTs Stolen in July 2023; Downtrend in NFT Theft
In Brief
In July 2023, hackers reportedly stole $1.73 million worth of non-fungible tokens. The result is 31% lower than in June, when $2.27 million worth of NFTs were stolen.
The number of exploits declines along with collectors’ interest in NFTs.
In July 2023, hackers reportedly stole $1.73 million worth of non-fungible tokens. The result is 31% lower than in June, when $2.27 million worth of NFTs were stolen.
So far, in 2023, February was the worst month in terms of NFT theft, with hackers stealing $16.2 million worth of NFTs. In March, hackers stole $10.9 million. Notably, in January and February, 50% of the stolen NFTs were sold on OpenSea. In June, more than 80% of the stolen NFTs were sold on Blur.
In July of this year, 19.63% of NFTs were stolen from the former largest NFT marketplace, OpenSea. Around 20% were stolen on X2Y2. Then, 67.3% of transactions took place on the Ethereum NFT marketplace Blur, which is currently the largest NFT marketplace by monthly trading volume.
According to PeckShield, a blockchain security company, stolen non-fungible tokens were sold on various marketplaces within 165 minutes after the theft.
Overall, the value of non-fungible tokens stolen in July has reached the lowest point of the year. The number of exploits declines along with collectors’ interest in NFTs. Most of the blue-chip non-fungible token collections have significantly lost value in the past year. For instance, Justin Bieber’s Bored Ape Yacht Club PFP, which was valued at around $1.3 million last year, is now worth approximately $59,000. The Ape token has lost approximately 95% of its value.
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About The Author
Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at valerygoncharenko@mpost.io
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Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at valerygoncharenko@mpost.io
