Hackers have stolen US$86m worth of NFTs since 2020: report

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More than US$86 million worth of NFTs have been stolen as a result of hacking since 2020, according to a report by cybersecurity information website Comparitech.

The number of NFT thefts has increased drastically this year. There were only two cases in 2020 when the industry started recording token thefts. The number rose to 14 cases in 2021 and then jumped to 150 cases in 2022.

The most serious case by the amount of dollars stolen at the time of the attack is Lympo, a sports-based NFT subsidiary of Hong Kong blockchain company Animoca Brands. In January 2022, 165.2 million LMT tokens worth approximately US$18.7 million were stolen. 

The WAX chain game Farmers World saw the second largest case when about US$15.7 million worth of NFTs were stolen in November 2021.

A hack targeting the Instagram account of the popular NFT collection Bored Ape Yacht Club led to US$13.7 million worth of assets being stolen in April this year. Two months later, hackers attacked BAYC’s Discord account, resulting in the loss of 200 ETH worth of tokens. 

Other high profile cases include: 

NFT gaming project DragonSB Finance (April 2022)

Estimated loss: US$10 million

NFT marketplace OpenSea ( February 2022)

Estimated loss: US$3.4 million

NFT & GameFi platform TopGoal (February 2022)

Estimated loss: US$2.23 million

NFT collection The Shifters (March 2022)

Estimated loss: US$2 million

Intelligent NFT Alethea AI (March 2022)

Estimated loss: US$1.8 million

NFT project Moonbirds (May 2022)

Estimated loss: US$1.5 million

NFT finance platform Omni (July 2022)

Estimated loss: US$1.43 million

The amount of damage was calculated based on hacking only and does not include theft by employees, fraud through the creation of fake websites or theft by individuals.

The Solana blockchain also suffered a hack August 3, resulting in millions of dollars of crypto assets drained from Solana-based crypto asset wallets and services.