1. PixelPlaygroundHome
  2. Blockchain Briefs

The Increasing Cases of NFT Thefts on OpenSea and Blur

• Blockchain Briefs • 171 views

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 2…

The Increasing Cases of NFT Thefts on OpenSea and Blur

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.

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

Interpretation of the news:


Non-fungible tokens (NFTs) are becoming more and more prominent in the digital world. They are digital assets that are unique in their own way and have become a popular medium for artists to sell their works. However, NFT theft has become a serious issue that needs to be addressed. According to PeckShield monitoring, the total value of stolen NFTs was reported to be 16.2 million US dollars in February of this year. This amount represents an increase of 268% month-on-month.

What is even more astonishing is that almost half of the stolen NFTs were sold within 82 minutes of the theft. These burglars are quick and efficient; they know when to strike and when to sell. Such a fast turnaround reveals that NFTs are a valuable asset, and those that belong to artists and collectors can bring in a significant amount of money. This trend is alarming and highlights the need for increased security protocols in the handling of NFTs.

PeckShield’s monitoring also indicates that OpenSea is the platform where 47% of the stolen NFTs were sold. OpenSea is a marketplace for buying, selling, and discovering NFTs. While it is no doubt an exciting avenue for artists and collectors, it is also a hub for digital thieves preying on unsuspecting creators. The popularity of OpenSea makes it an ideal target for theft, and this highlights the need for tighter security measures.

Blur, another platform for NFT exchange, has also been a victim of NFT theft, with approximately 21.7% of stolen NFTs sold on the platform. Blur’s incidence of NFT theft highlights the need for increased cybersecurity measures in digital environments. It is important to remember that NFTs are digital assets; therefore, they should be treated as such to ensure their preservation and security.

This increase in NFT theft should be a warning to artists and creators that precautions need to be taken to prevent their valuable assets from being stolen. It is not enough to rely on platforms to handle the security of these digital assets; artists and creators need to take the initiative to protect their work. The theft of NFTs not only takes away a creator’s intellectual property but also the monetary value of their work. Therefore, it is essential that we put measures in place to ensure the security of NFTs on all platforms.

In conclusion, it is important to note that there is no technology or system that is entirely foolproof, and as such, the security of digital assets remains an ongoing concern. However, with the proper security protocols and awareness, the theft of NFTs can be minimized or eliminated.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4353/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/02/2023 18:10
Next 03/02/2023 19:01

Recommended articles