Security team: NFT worth 16.2 million dollars was stolen in February

It is reported that according to PeckShield monitoring, NFT worth 16.2 million US dollars was stolen in February this year, with a month-on-month increase of 268%. Nearly half of the stolen NFTs were sold within 82 minutes. About 47% of stolen NFTs are sold on OpenSea and about 21.7% on Blur.

Interpretation of this information:

The NFT market has been making waves lately, with digital art pieces selling for millions of dollars. However, this new form of investment has also attracted the attention of cybercriminals. According to PeckShield monitoring, NFT worth 16.2 million US dollars was stolen in February alone. This is a staggering increase of 268% month-on-month, indicating that cybercriminals are finding ways to steal and profit from NFTs.

What’s particularly alarming is that nearly half of the stolen NFTs were sold within 82 minutes after being stolen. This suggests that cybercriminals are targeting high-value NFTs and have a quick exit strategy in place. The fact that they can sell stolen NFTs in such a short amount of time highlights how easy it is to launder digital assets.

Most of the stolen NFTs were sold on OpenSea, which is currently the largest NFT marketplace. This suggests that OpenSea might not be doing enough to prevent stolen NFTs from being sold on their platform. While it’s unclear how the cybercriminals were able to steal the NFTs, it’s clear that there’s a need for better security measures across all NFT marketplaces.

The fact that cybercriminals are now targeting NFTs reveals the growing popularity and value of this new investment vehicle. However, with this growth comes new risks and challenges that the industry needs to address. It’s not just about securing the NFTs themselves, but also ensuring that NFT marketplaces are safe from cybercriminals.

As more investors pour into the NFT market, the risks associated with it will only grow. It’s essential that the industry takes proactive steps to prevent cybercrime and protect investors. Regulations and security standards should be put in place to prevent the theft and sale of stolen NFTs. Investors must also be cautious and do their research before investing in NFTs, ensuring that they’re buying from reputable marketplaces and artists.

The theft of NFT worth 16.2 million US dollars is a stark reminder that the world of digital assets is not immune to cybercrime. It’s time for the industry to take these risks seriously and invest in better security measures. Only then can NFTs be considered a safe and reliable investment vehicle.