The value of NFT frauds perpetrated monthly has declined. This is due to the steady fall in general interest in the digital asset.
The value of stolen NFTs in July was $1.72 million, down 89% from $16.2 million in February, which was the highest monthly figure for stolen NFTs in 2023. In June, the value of stolen NFTs totaled $2.73 million, representing a 37% drop in NFT thefts in July.
eckShield added that half of the stolen digital collectibles were sold on various NFTs marketplaces, but primarily on Blur.So far, the year has been plagued by a general lack of interest in non-fungible tokens, especially profile-picture NFTs . With less transactions involving NFTs completed in the last month, the ecosystem experienced a decline in market capitalization and trading volume., the NFT vertical of the crypto ecosystem had a market capitalization of $5.
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