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More than $100m (£85m) worth of non-fungible tokens were stolen in the year to July, research shows, with criminals making off with an average of $300,000 per scam.
Phishing scams, the most common type, entice users to accidentally hand over the credentials to their cryptocurrency wallets, with which a fraudster can initiate an irreversible transaction.
The $100m total does not even include the single largest NFT-related theft, of $500m of digital currency from NFT-based video game Axie Infinity. Those hackers, believed to be North Korean state actors, left the Pokemon-like NFTs alone, and instead stole the money that players had deposited in the system to power its in-game economy.
