Recent research study from Comparitech reveals that NFT thefts are ending up being more regular than ever— and more lucrative.

The business has kept track of NFT thefts ever since the non-fungible token requirement was initially presented and tape-recorded the very first stolen NFTs as early as 2020. Since then, over $86.6 million of tokens have been stolen. At today’s costs, these NFTs are worth over $896.5 million.

There has likewise been a substantial boost in the general number of NFT thefts in 2022, starkly contrasting the decreasing number of crypto hacks tape-recorded by Comparitech. Out of the 166 overall NFT thefts, 14 occurred in 2021, and just 2 took place in 2020. The staying 150 happened, in 2022, with March being the worst month for NFT owners, with 31 thefts occurring that month.

nft thefts
Chart revealing NFT thefts from 2020 to 2022 (Source: Comparitech)

The biggest theft based upon the quantity stolen at the time of the attack was Lympo. In January 2022, the sports-based NFT subsidiary of Animoca Brands lost 165.2 million LMT tokens in a hot wallet hack. At the time of the attack, the tokens were worth $18.7 million. In November 2021, WAX chain video game Farmers World suffered a hack that led to $15.7 million worth of NFTs being stolen.

With $13.7 million stolen, BAYC is the third-largest NFT hack ever. In April 2022, BAYC’s Instagram account was hacked, and lots of NFTs were stolen from users. The flooring cost for the stolen NFTs was almost $14 million at the time of the attack.

In its research study, Comparitech just concentrated on clear exploits from hackers and omitted carpet pulls, staff member thefts, phishing rip-offs, and business mistakes. The research study likewise consisted of NFT attacks recognized by security trackers such as PeckShield or CertiK.

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