LONDON : Thieves stole over $100 million worth of non-fungible tokens in the year to July, blockchain research firm Elliptic said on Wednesday, as the fast-emerging digital asset became a new front in crypto's hacking problem.The market surged in 2021 as crypto-rich speculators spent billions of dollars on the assets, hoping to profit as prices rose. But since cryptocurrency prices crashed in May and June this year, NFT prices and sales volumes have plunged.
Security compromises via social media have surged, accounting for 23 per cent of NFT thefts in 2022, it said. Hacks and scams have long plagued the crypto industry, while regulators around the world are increasingly concerned about the use of crypto assets in cyber crime.
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