Over $100 million in NFTs stolen since 2021 — Elliptic
The firm reported that although the market downturn caused the value of NFTs to plummet, scammers stole approximately 4,647 of the tokens in July 2022.
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Cryptocurrency risk management firm Elliptic released a report suggesting that scammers stole more than $100 million worth of non-fungible tokens, or NFTs, as of 2021.
In its report on NFTs and financial crime released on Wednesday, Elliptic said crypto users fell victim to approximately $100.6 million in NFT-related scams during the 13-month period ranging from July 2021 to July 2022. The company reported that although the market downturn has caused the value of NFTs to plummet, scammers stole the most tokens in July 2022 – estimated at 4,647 assets – and the most value in May 2022 at approximately $23.9 million.
According to Elliptic, the most valuable stolen NFT the company verified as part of its analysis was a CryptoPunk worth $490,000 at the time it was stolen in November 2021. In December 2021 , the crooks were able to steal "16 blue chip NFTs". worth $2.1 million" from a single victim in the crypto space.
Source: EllipticalReport says individuals have laundered over $8 million in illicit funds through NFT platforms since 2017, while over $328 million has gone through cryptocurrency mixers, including Tornado Cash , sanctioned by the US Office of Foreign Assets Control in August . The controversial mixer reportedly processed $137.6 million worth of crypto from NFT platforms and was "the laundering tool of choice" for the majority of scams.
It is unclear how close the aforementioned numbers were to the true value of crypto and NFTs involved in scams, as many go unreported or are identified after the fact. Elliptic reported that over 2,000 NFTs were stolen worth approximately $20 million in April 2022, but the fake airdrop
The firm reported that although the market downturn caused the value of NFTs to plummet, scammers stole approximately 4,647 of the tokens in July 2022.
New
Cryptocurrency risk management firm Elliptic released a report suggesting that scammers stole more than $100 million worth of non-fungible tokens, or NFTs, as of 2021.
In its report on NFTs and financial crime released on Wednesday, Elliptic said crypto users fell victim to approximately $100.6 million in NFT-related scams during the 13-month period ranging from July 2021 to July 2022. The company reported that although the market downturn has caused the value of NFTs to plummet, scammers stole the most tokens in July 2022 – estimated at 4,647 assets – and the most value in May 2022 at approximately $23.9 million.
According to Elliptic, the most valuable stolen NFT the company verified as part of its analysis was a CryptoPunk worth $490,000 at the time it was stolen in November 2021. In December 2021 , the crooks were able to steal "16 blue chip NFTs". worth $2.1 million" from a single victim in the crypto space.
Source: EllipticalReport says individuals have laundered over $8 million in illicit funds through NFT platforms since 2017, while over $328 million has gone through cryptocurrency mixers, including Tornado Cash , sanctioned by the US Office of Foreign Assets Control in August . The controversial mixer reportedly processed $137.6 million worth of crypto from NFT platforms and was "the laundering tool of choice" for the majority of scams.
It is unclear how close the aforementioned numbers were to the true value of crypto and NFTs involved in scams, as many go unreported or are identified after the fact. Elliptic reported that over 2,000 NFTs were stolen worth approximately $20 million in April 2022, but the fake airdrop
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