PeckShield Analyzes NFT Theft and Sale Trends
A recent report by blockchain security firm PeckShield offers a revealing snapshot of nonfungible token (NFT) thefts. Surprisingly, the study shows that half of the stolen NFTs get sold within a short span of 160 minutes on various NFT marketplaces, including prominent platforms like Blur and OpenSea.
June Records Lowest NFT Thefts for 2023
On July 3, PeckShield provided a statistical insight into the world of NFTs, highlighting the value stolen in June, the duration for stolen NFTs to be sold, and the favored NFT marketplaces for these illicit transactions.
According to the report, June 2023 recorded $2.27 million of stolen NFTs. This figure is the lowest monthly theft for the year and shows an 85% decrease compared with February, when the value of stolen NFTs skyrocketed to a significant $16.2 million.
Half of Stolen NFTs Sold within Three Hours
Beyond monetary losses, PeckShield’s report also offers an intriguing insight into the timeline of NFT thefts and sales. The security firm found that half of the flagged stolen NFTs are sold within three hours, a clear indication of how quickly hackers can offload their ill-gotten gains.
Blur and OpenSea: Preferred Marketplaces for Stolen NFTs
The report highlights Blur and OpenSea as the primary marketplaces for the sale of stolen NFTs. In June, a staggering 99.7% of stolen NFTs were disposed of on these two platforms, with Blur handling 86% of the transactions and OpenSea, 13.76%.
AzukiDAO Targets Legal Action Against Azuki Founder
In a parallel development, AzukiDAO, a decentralized autonomous organization (DAO) comprising Azuki NFT holders, has proposed legal action against Azuki founder Zagabond. The group aims to secure $39 million worth of Ether earned from the recent sales of Azuki’s new collection, “Elementals.”
According to AzukiDAO, directing these funds towards the DAO will ensure the growth and development of the entire Azuki community.