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Elliptic NFTs Worth $100M Reported Stolen in the Past Year

The most valuable month for thefts was May 2022, when 3,473 NFTs worth $23.9 million were taken. A recent report from the blockchain analytics company Elliptic says that between July of last year and July of this year, non-fungible tokens (NFT) worth a total of $100.6 million were stolen.

Because of the crypto winter, the value of stolen NFTs peaked in May at $23.9 million, then dropped to just over $5 million in June and $3.9 million in July. This sharp drop could be because of the bear market in cryptocurrencies. On the other hand, there are more and more thefts. In May, there were 3,473 thefts, in June there were 3,712 and in July there were 4,647.

Elliptic also found that platforms based on NFTs have been used to hide more than $8 million in illegal transactions since 2017. During this time, services like cryptocurrency mixers were used to clean up an extra $328.6 million.

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