BAYC is the most stolen NFT collection
A new report by the Eliptic company has revealed that the Bored Ape Yacht Club (BAYC) collection of NFTs is a favourite among thieves. That way, according to the report, hackers stole more than 167 BAYC NFTs between 2021 and July 2022.
According to the company hackers have stolen over $100 million worth of NFTs since last year. Eliptic also stated that scams remain plentiful in the NFT market. That way, July 2022 was the month when hackers stole the most NFTs.
The main tool used by hackers to steal NFTs is social media scams.
According to the company this type of theft accounts for 23% of all NFT thefts in the market. That way, using this method, Eliptic claims thieves steal an average of $300,000 per scam.
Furthermore, among the crimes committed in the NFT market Elliptic highlighted money laundering. Therefore, according to the company, in the period studied, hackers used the NFTs market to launder more than $8 million in illegal money.
One such mixer, Tornado Cash, was used to launder just over half of the profits from NFT scams, Elliptic said.