NFTs Are Increasingly Targeted by Criminals, Report Says

Nonfungible tokens, or NFTs, are more and more sought by criminals trying to both steal them or use them to launder illicit positive aspects, a brand new report from blockchain analytics agency Elliptic mentioned on Wednesday.

Greater than $100 million price of those blockchain-based property have been reported stolen in scams over the previous yr, in line with the examine. Over 4,600 NFTs have been stolen in July, probably the most in any month since Elliptic started monitoring the information in 2017, the report mentioned.