{"id":66281,"date":"2022-08-25T12:33:19","date_gmt":"2022-08-25T09:33:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=66281"},"modified":"2025-09-07T00:32:49","modified_gmt":"2025-09-06T21:32:49","slug":"elliptic-scammers-stole-nfts-worth-more-than-100m-in-a-year","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elliptic-scammers-stole-nfts-worth-more-than-100m-in-a-year\/","title":{"rendered":"Elliptic: scammers stole NFTs worth more than $100m in a year"},"content":{"rendered":"<p>In the 12 months from July 2021, malicious actors stole NFTs worth more than $100 million as a result of scams, according to a report by analytics firm Elliptic.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8Over $100 million worth of NFTs were publicly reported as stolen through scams between July 2021 and July 2022, netting perpetrators $300,000 per scam on average. <br \/>Head to <a href=\"https:\/\/t.co\/u6iPLjXgpR\">https:\/\/t.co\/u6iPLjXgpR<\/a> to read our NFTs and Financial Crime Report.<a href=\"https:\/\/twitter.com\/hashtag\/nft?src=hash&#038;ref_src=twsrc%5Etfw\">#nft<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/aml?src=hash&#038;ref_src=twsrc%5Etfw\">#aml<\/a><\/p>\n<p>\u2014 elliptic (@elliptic) <a href=\"https:\/\/twitter.com\/elliptic\/status\/1562468024119992320?ref_src=twsrc%5Etfw\">August 24, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On average, scammers&#8217; haul amounted to around $300,000 per scam.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In July 2022, more than 4,600 NFTs were stolen\u2014the highest monthly figure on record. This indicates that scams are not decreasing, despite the bear market,&#8221; the experts noted.<\/p>\n<\/blockquote>\n<p>The most lucrative month, by value of stolen assets, was May, with $24 million.<\/p>\n<p>According to the report, 23% of stolen NFTs were obtained by attackers through compromising social media (primarily Discord) and phishing there. Other methods included creating malicious websites, email exploits, and wallet breaches, such as <a href=\"https:\/\/u1f987.com\/en\/news\/hackers-breach-around-8000-solana-wallets-siphoning-off-millions-of-dollars\">in the case of Solana<\/a>.<\/p>\n<p>The scammers laundered 52% of NFT-scam proceeds through the Tornado Cash mixer, before the service <a href=\"https:\/\/u1f987.com\/en\/news\/us-sanctions-tornado-cash-the-ethereum-mixer\">was sanctioned by the U.S. Treasury<\/a> in August.<\/p>\n<p>Overall for the year, Tornado Cash processed crypto assets related to NFT marketplaces worth $137.6 million.<\/p>\n<p>Overall, experts estimate the amount laundered through non-fungible tokens at $8 million (0.02% of marketplace turnover) since 2017.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;While crime accounts for only a small share of overall NFT trading, it has an outsized impact on the industry&#8217;s reputation and undermines the quality of service for law-abiding users,&#8221; said Elliptic researchers.<\/p>\n<\/blockquote>\n<p>In June, trading volume on NFT marketplaces fell by 74% from the previous month, to $1.04 billion.<\/p>\n<p>In July, the figure fell by another 26% and stood at $647.2 million.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the 12 months from July 2021, malicious actors stole NFTs worth more than $100 million as a result of scams, according to a report by analytics firm Elliptic.<\/p>\n","protected":false},"author":1,"featured_media":66282,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1535,1213],"class_list":["post-66281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-elliptic","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66281","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=66281"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66281\/revisions"}],"predecessor-version":[{"id":66283,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/66281\/revisions\/66283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/66282"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=66281"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=66281"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=66281"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}