Fraudsters Stole $2.27M Worth NFTs in June: PeckShield

NFTs continue to attract not only more users but also the eyes of fraudulent entities. Web3 threat actors have set their sights on digital holdings, with millions of funds lost through various scams and attacks.

A new report notes that such thefts in the NFT space declined in June but are still rampant.

NFT Theft: June release

Highlighting the crime scene in this month’s NFT, PeckShield’s analysis It revealed that scammers stole approximately $2.27 million in NFTs. Despite this, June saw a 23% decrease from the previous month’s $2.95 million. This can be attributed to lower floor prices.

The latest figure is also more than 85% below February’s high of $16.2 million.

The blockchain security firm also determined that half of the stolen NFTs were instantly sold on various markets within three hours of the theft. Prominent NFT marketplaces such as Blur emerged as the hotspot with nearly 86% of illicit funds sold, followed by OpenSea with 13.76%.

Meanwhile, the minimum prices for NFT pools such as Bored Ape Yacht Club (BAYC), Otherdeed, Mutant Ape Yacht Club, Azuki Elementals, as well as DeGods are all drunk Significantly.

Many whales view the market conditions as an opportunity to accumulate more NFTs at lower prices. Lookonchain revealed that a whale under the alias “Machi Big Brother” scavenged 84 Azuki NFTs over the past day to become the second largest holder.

In terms of overall gaps in the digital asset industry, it was June Rank Second highest month this year. The exploiters managed to steal more than $92 million via 42 hacks.

NFT exploits and cheats

Earlier this year, Nikhil Gopalani, COO of RTFKT, lost $173,000 worth of NFTs from his wallet in an apparent phishing attack. Subsequent investigations indicated that Gopalani may have mistakenly provided confidential information to a hacker who was posing as an Apple representative.

Phishing, scam projects, hacked and stolen NFTs, market manipulation, and rugged pulling continue to rule the NFT space. As previously reported, over $100 million in NFTs were stolen throughout 2022.