Hackers stole more than $ 100 million from NFTs over the past year

According to the analytical company Elliptic, from July 2021 to July 2022, hackers were able to steal NFTs worth more than $ 100 million. According to experts, on average, the theft of NFTs brings attackers $ 300,000 per hacker attack. Thus, in July 2022, a record number of NFTs were stolen — 4,600 copies. May is the leading month in terms of the amount of stolen funds — this month, hackers stole $ 24 million worth of tokens.

Analysts noted that in 2022, theft of NFTs through social media fraud, including hacking of Discord servers, became more frequent. According to this scheme, scammers have stolen about 5000 tokens worth $ 20 million since the beginning of 2022 alone. Other attack methods that Elliptic monitors include phishing emails, malicious websites, and, as in the case of the Solana hack in early August, a mobile wallet exploit.

According to the firm, the most valuable stolen NFT is CryptoPunk #4324. In November 2021, it brought the thieves $ 490,000 dollars. Interestingly, NFTs are not popular for money laundering — since 2017, criminals have been able to launder «only» $ 8 million. However, hackers often buy NFTs with funds received from cryptocurrency mixers. The volume of such sales is currently $ 328.6 million.

«The actual numbers are likely to be higher, as thefts are not always reported publicly,» the researchers say, adding that NFT markets should work to develop an approach that will effectively help manage cryptocurrency risks.