The world of Non-Fungible Tokens (NFTs) has been rocked by a massive theft of digital assets worth a staggering $10.9 million in March 2023. This represents a 32.72% decrease in NFT theft compared to the previous month, crypto security and blockchain analytics company PeckShield said in a tweet.
The incident has sent shockwaves throughout the cryptocurrency and blockchain communities, raising concerns about the security and safety of these digital assets.
Half of the stolen NFTs were quickly sold on various marketplaces within a mere two hours of the theft. The identity of the thieves and their motives remain unknown, but experts believe this is just the tip of the iceberg and that more such incidents could be on the horizon.
Further investigations revealed that a significant chunk of the stolen NFTs was first sold on the popular digital art platform, Blur. A staggering 74.9% of the stolen NFTs were sold on the platform. This was followed by 19.5% of the stolen NFTs sold on the more well-known marketplace, OpenSea.
NFTs have become increasingly popular recently, with artists, musicians, and even sports teams jumping on the bandwagon to monetize their digital assets. However, the theft of these digital assets raises severe concerns about their security and safety of these assets.
Earlier it was reported that the much-anticipated airdrop event for Blur was disrupted by hackers who attempted to manipulate the system. It came to light that an anonymous hacker posed as the official Blur account and sent fake BLUR tokens to several entities, including Coinbase, Justin Sun, and Yuga Labs.
