In a recent report by PeckShield, a blockchain security firm, concerning data points on nonfungible tokens (NFTs), some interesting findings have been highlighted. The report reveals that approximately $2.27 million worth of NFTs were stolen in June 2023, representing the lowest recorded value of stolen NFTs throughout the year. This figure also indicates a significant 85% decrease compared to the peak in February, when stolen NFTs amounted to a staggering $16.2 million.
Beyond the monetary value of the stolen assets, PeckShield’s analysis indicates that hackers are quick to sell off their ill-gotten NFTs. Surprisingly, half of the stolen NFTs flagged by the firm were sold within a remarkably short time frame of three hours. This rapid turnover suggests that hackers have little difficulty offloading stolen NFT in a relatively short period.
The report also sheds light on the preferred marketplaces for selling stolen NFT, with Blur and OpenSea emerging as the primary choices. An overwhelming majority of the stolen NFT in June, specifically 99.7%, were transacted through these two platforms. Among them, Blur handled 86% of the sales, while OpenSea accounted for 13.76%.
Stolen NFTs
In a separate development related to NFT, a decentralized autonomous organization (DAO) composed of holders of the popular NFT collection Azuki has put forth a proposal to hire a lawyer. The purpose of seeking legal action is to hold Azuki’s founder, Zagabond, accountable. The DAO alleges that Zagabond has earned approximately $39 million worth of Ether from the recent sales of Azuki’s new collection known as “Elementals.”
These recent findings from PeckShield’s report, coupled with the emergence of the AzukiDAO initiative, highlight the ongoing challenges and concerns within the NFT space. Additionally, the proposed legal action by AzukiDAO signifies a growing need for accountability and protection of NFT holders, signaling the community’s desire to safeguard their investments and ensure a fair and transparent ecosystem.
