According to blockchain analytics firm Elliptic, over $100 million in NFTs were stolen last year.
Elliptic’s new report sheds light on important information regarding NFT theft and fraud.
Over $100M in NFTs Stolen
According to Elliptic’s report, over $100 million in NFTs was stolen between July 2021 and July 2022. However, this amount seems likely to be higher since thefts were detected retrospectively.
The $100 million stolen NFT accounts for 0.65% of the total NFT transaction volume, according to data from The Block. Approximately $15.3 billion worth of NFT transactions took place between July 2021 and July 2022.
According to Elliptic’s report, Bored Ape Yacht Club NFTs stood out as the NFT collection most likely to be stolen. The company identified 167 stolen Bored Apes worth $43.6 million. Bored Ape was followed by Mutant Ape with a loss of $14.5 million and Azuki with a loss of $3.9 million.
In May 2022, an NFT worth $24 million was stolen. In July, 4,600 NFTs were stolen.
Elliptic claimed that the major market problems after the Terra crash did not slow down NFT thefts.
