$100 million NFT Stolen by Scammers – Katoch Tubes

$100 million  NFT Heist

The NFT Report

Acc. to research by Elliptic, a risk management company, over $100 million worth of NFTs were stolen btwn July 2021-22  by scammers

Scammer Attacks

Scammers apply numerous ways to hijack NFTs like fake airdrops, tech vulnerability, phishing mail etc.

Money Laundering

Hackers use NFT platform for money laundering. Approx. $8 million in illegal funds were laundered since 2017  via NFT platforms

NFTs Stolen

Hackers targets premium NFT collectibles. For example CryptoPunks #4324 was stolen & sold for $490,000 after theft.

The Easy Bait

The NFT owners fall victim to scams which coincides with specific event. Like BAYC fake airdrops scam ran side-by-side with BAYC 1 year anniversary.

Word of Caution

The best practice is to use a new wallet when connecting to new apps or links. Minimize the use of wallet holding NFT assets.

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