June records 2023’s lowest figure for stolen NFTs

A new NFT report released today from blockchain security firm PeckShield found that NFT thefts were down in June by 23% as compared to the previous month.

It also came out to be a 2023 low as June witnessed only $2.27million in NFT thefts, whereas the same figure for May stood at $2.95m. February, on the other hand, suffered the highest loss of worth $16.2m in these thefts.

PeckShield also noted that hackers were quite quick in selling these stolen goods. Half of the NFTs stolen got sold within three hours. While this happens on various NFT marketplaces, Blur and OpenSea have been the go-to ones for selling these assets.

The percentage of stolen NFTs initially sold on Blur was 86%, followed by OpenSea with 13.76%. These are followed by X2Y2 and LooksRare, the use of which has been on a fall since March.

Experts in the field have suggested a correlation between the decline in NFT thefts to the falling floor price of NFTs in June. All major collections including BAYC, MAYC, Azuki, DeGods, and Azuki Elementals, have seen floor prices crashing by double figures over the last weekend.

On the flip side, June has also been the second-highest month this year for overall crypto exploits, as per PeckShield’s last week report. The month saw a total of 42 exploits, where hackers made away with about $92.55m in total.