NFT Theft Decreases in June, Data Shows

Summary:

– Approximately $2.27 million worth of NFTs were stolen in June, a 23% decrease compared to May.
– The majority of stolen NFTs were dumped on the Blur marketplace, followed by OpenSea.
– Bitcoin’s BRC20 NFTs had the second-highest trading volumes, after Ethereum’s ERC20-based digital collectibles.

Full Article:

NFT thefts saw a decrease in June, with approximately $2.27 million worth of digital collectibles stolen, representing a 23% decrease compared to May, according to data from PeckShieldAlert. The stolen NFTs were quickly sold on various marketplaces, with around half of them being sold within just 160 minutes. The preferred dumping ground for these stolen NFTs was the Blur marketplace, which accounted for 86% of the sales, followed by OpenSea at 13.76%.

Despite the overall decrease in NFT trading volumes in recent months, NFTs remain a target for bad actors. The Bitcoin BRC20 NFTs, known as Ordinals, have been gaining traction and had the second-highest trading volumes in the last 30 days, surpassed only by Ethereum’s ERC20-based digital collectibles.

Since the launch of the BRC-20 token standard on the Bitcoin network, the blockchain has established itself as a significant player in the NFT space, surpassing chains like Solana and Polygon. The trading volume for BRC20 NFTs currently stands at $2,372,926, with Ethereum leading the way at $24,905,125 in the past 24 hours.

NFT thefts reached their peak in February, with $16.2 million worth of NFTs stolen. However, June’s figure marks the lowest amount since January 2023. Despite the decrease in NFT thefts, security remains a concern in the NFT market, as these digital collectibles continue to attract interest and value.