Despite June being the month with the lowest recorded number of NFT thefts in 2023, the hacker’s dumping action has caused significant turmoil in the NFT market.
According to a report from blockchain security company PeckShield, $2.27 million worth of NFTs were stolen in June.
The data also shows that the value of NFTs has declined by 85% compared to the previous month of February when the stolen NFTs reached a high of $16.2 million.
In addition to the number of stolen NFTs, the blockchain security company also discovered that half of the flagged stolen NFTs were being listed for sale within three hours on various NFT marketplaces such as Blur and OpenSea.
In addition to the hacker’s dumping of stolen NFTs, the market impact has been significant, with NFT prices continuously deteriorating over the past 24 hours.
BAYC decreased by 16% and dropped below 30 ETH.
MAYC decreased by 20% and dropped below 5 ETH.
Azuki decreased by 11% and dropped below 6 ETH.
The total market capitalization of the NFT market has decreased by 53% to 3.33 million ETH.