Blockchain Data Security Specialist, pec shield, shed a little light on the dark side of the NFT industry. Nearly half of all NFT thefts were sold within three hours of the crime occurring, revealing the difficulty of catching the perpetrators.

In its latest report, PeckShield highlighted a number of factors related to crime within the NFT sector. This includes aspects such as how long criminals keep stolen assets, how to dispose of them, and recent numbers of NFTs stolen in June 2023.

According to the data, $2.27 million worth of NFTs were stolen in June, the lowest monthly figure ever for 2023. However, this figure is consistent with a sharp drop in value and interest across NFTs.

Peckshield found that half of these stolen NFTs were sold within 160 minutes of the initial theft. On the other hand, the majority (86%) have disposed of their ill-gotten gains through the Blur NFT marketplace, with OpenSea accounting for a further 13.76%.

NFT crime subsides from February’s dizzying heights

The latest crime stats come after some of the biggest NFT players have seen their floor prices drop due to the current climate. As a result, the figure of $2.27 million in stolen NFTs is a far cry from the annual high of $16.2 million set in February. Essentially, this means that as NFT crime becomes less profitable, cybercriminals will look elsewhere for opportunities.

So, as crime rates drop, it’s easy to get complacent when it comes to personal online security. However, the advice remains the same. Be vigilant, only authorize intended wallet transactions, and be careful of everyone.

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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.

By Jules

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