Business News Report
August 07, 2023

$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.

$1.73M Worth of NFTs Stolen in July 2023; Downtrend in NFT Theft

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. 

Read related posts:

Tags:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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 [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

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 [email protected]

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
Markets News Report Technology
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
May 24, 2024
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
Interview Business Markets Software Technology
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
May 24, 2024
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
News Report Technology
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
May 24, 2024
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
Digest Top Lists Business Lifestyle Markets Software Technology
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
May 24, 2024