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NFT thefts result in $10.9M loss in March Peckshield report

NFT-thefts-result-in-$10.9M-loss-in-March-Peckshield-report

Blockchain security firm Peckshield has revealed that approximately $10.9 million worth of NFTs were stolen in March, with 75% of them being resold on the Blur marketplace.

Peckshield also stated that half of the stolen NFTs were sold within two hours of being stolen, with OpenSea accounting for 19.5% of the sales.

According to the firm’s alert-focused Twitter account, the NFT thefts in March represented a 32.72% decrease from the previous month. The tweet read, “$10.9M worth of NFTs were stolen, representing a 32.72%% decrease from the previous month. Half of the stolen NFTs were quickly sold on marketplaces within 2 hours.”

Peckshield did not provide any explanation for why Blur was targeted by NFT thieves in March.

However, it is worth noting that the stolen NFT activity on the marketplace was significantly lower in February, accounting for only 20% of the first sales of stolen NFTs, despite the platform running a token airdrop campaign at the time.

While the technology behind NFTs provides a secure and transparent method of verifying ownership and provenance, their increasing value has made them a prime target for hackers and scammers. This highlights the need for increased security measures and vigilance among NFT owners and platforms.

About Tina

Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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