Downtrend in NFT Theft: Worth of the stolen NFTs in July 2023 was $1.73M!

According to an analysis by PeckShield, a blockchain security company, $1.73 million worth of non-fungible tokens was stolen by hackers in July 2023 which was 31% lower than in June. The largest theft of NFTs was in February this year which was around $16.2 million worth. Then it was decreased to $10.9 million in March. It is noteworthy that 50% of the stolen NFTs were sold on OpenSea in January and February, while 80% of them were sold on Blur in June. Further, PeckShield claims that stolen tokens have been sold on various marketplaces within 165 minutes after the theft. Such abuses have reduced the interest of collectors in NFTs and reduced the value of collections including Justin Bieber’s Bored Ape Yacht Club.

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