NFT Thefts Dropped By 30% From February as Scammers Stole NFTs Worth Over $10M in March

Hackers and con artists have continued to actively target the cryptocurrency market, with the bulk of them recently concentrating on duping investors in non-fungible tokens. By March 2023, hackers had taken over $100 million in cryptocurrency.

Hackers stole NFTs in March worth more than $10 million

NFTs worth over $10.9 million were stolen in March, said Peckshield, a blockchain security company that monitors cryptocurrency and NFTs. However, compared to the previous month, the overall number of NFTs stolen decreased by more than 30%.

PeckShield stated in a blog post on April 3 that the stolen NFTs from March were sold again two hours later, with more over half of the stolen NFTs selling on significant non-fungible token exchanges within minutes. Some of them included #Azuki #8159 and #7637, which on March 31 sold for 12.5 ETH apiece on the Blur NFt Marketplace.

Following Blur NFT marketplace, which claimed 74.9% of the stolen NFTs, was competitor NFT marketplace OpenSea. The « crypto token airdrop » market activity that was taking place in these important marketplaces at the time was abused by scammers.

Explained: Common NFT Scam Techniques

In order to defraud NFT investors, hackers and con artists have been adopting a variety of strategies. Some of these include fake NFTs, in which con artists defraud investors by offering fake NFTs, and phishing schemes, in which fraudsters send emails or text messages that appear to be from a trustworthy NFT platform or website.

Other NFT scams include investment scams, in which con artists claim to assist their victims acquire NFTs at a reduced price or sell their NFTs for more money than they spent, and NFT hacking, in which criminals penetrate NFT wallets and steal people’s NFTs.

Scammers frequently advertise bogus auctions for NFTs that don’t exist using this technique. Hackers may also utilize fake NFT platforms that resemble authentic ones in appearance, but are actually there to steal investors’ money.

Recommended For You

About the Author: Paul

Laisser un commentaire

Votre adresse e-mail ne sera pas publiée. Les champs obligatoires sont indiqués avec *