Home Crypto Value Of Stolen NFTs Since Start Of 2022 Is Over $86.6M

Value Of Stolen NFTs Since Start Of 2022 Is Over $86.6M

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Value of stolen NFT since the start of 2022 is thought to be over the $86.6 million mark, and hackers don’t appear to be slowing down.

NFT thefts are increasing in frequency and profit, according to recent Comparitech data.

Since the non-fungible token standard was originally created, the corporation has maintained track of NFT thefts, and the first stolen NFTs were reported in 2020. Tokens worth more than the $86.6 million mark have been stolen since then. These NFTs are worth more than $896.5 million at today’s pricing.

The total number of NFT thefts has also significantly increased in 2022, in stark contrast to the diminishing number of crypto breaches reported by Comparitech. 14 of the 166 NFT thefts occurred in 2021, and just two did so in 2020. The other 150 occurred in 2022, with March being the worst month for owners of NFTs due to the 31 thefts that occurred in that month.

value of stolen NFT, million mark
Chart of NFT thefts 2020-2022. Source: Comparitech

According to the amount taken at the time of the attack, Lympo was the biggest theft. A hot wallet breach cost the sports-focused NFT division of Animoca Brands 165.2 million LMT tokens in January 2022. The value of the tokens was $18.7 million at the time of the attack. Farmers World, a WAX chain game, experienced a cyberattack in November 2021, which led to the theft of NFTs valued at $15.7 million.

The BAYC hack is the third-largest NFT hack ever, with $13.7 million taken. A hacker gained access to BAYC’s Instagram account in April 2022, and users’ NFTs were stolen in large numbers. At the time of the attack, the NFTs’ floor price was close to $14 million.

Rug pulls, employee theft, phishing schemes, and corporate failures were not included in Comparitech’s report, which primarily concentrated on obvious hacker attacks. NFT assaults discovered by security trackers like PeckShield or CertiK were also included in the study.

7 Crypto Heist In Comparison As Reported By Comparitech

  • Ronin Network (Axie Infinity) -$620 million stolen in March 2022
  • Poly Network – $610 million stolen in August 2021
  • Coincheck – $532 million was stolen in January 2018
  • MT Gox – $470 million stolen – discovered in February 2014
  • Wormhole – $326 million stolen – first major heist of 2022
  • KuCoin – $281 million stolen in September 2020
  • PancakeBunny – $200 million stolen in May 2021

The total value of stolen crypto from these top 7 heists is a little over $3 billion.

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