LONDON - Thieves stole over $100 million (S$139 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. NFTs are blockchain-based assets that represent digital files such as images, video or text. The market surged in 2021 as crypto-rich speculators...
The logo of Elliptic is seen on their exhibition stand at the Delta Summit, Malta's official Blockchain and Digital Innovation event promoting cryptocurrency, in Ta' Qali, Malta, on Oct 3, 2019.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.
Security compromises via social media have surged, accounting for 23per cent of NFT thefts in 2022, it said.Thieves received on averaged $300,000 per scam, Elliptic said. The true scale of NFT thefts is likely to be even higher, given that not all crimes are publicly reported, it added. Elliptic put the amount of money-laundering in NFT-based platforms at just $8 million. But almost $329 million worth of funds in the NFT market came from services such as so-called cryptocurrency mixers, which are designed to hide the funds' origin, Elliptic said.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NFTs worth $100 million stolen in past year, Elliptic saysLONDON : 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. NFTs are blockchain-based assets that represent digital files such as images, v
Read more »
Britain's Gatwick airport ends caps as Heathrow disrupted over winterLONDON (BLOOMBERG) - London Gatwick airport said it will end capacity caps this month, bringing some relief to travellers as schedule reductions at the British capital's larger Heathrow hub continue through the winter season. Read more at straitstimes.com.
Read more »
Cost of living crisis dominates UK leadership campaignLONDON: With double-digit inflation and an economy teetering on the brink of recession, the cost-of-living crisis has dominated the race for Downing Street. But the two candidates vying to succeed Boris Johnson as Conservative party leader and UK prime minister have differing approaches to the problem.
Read more »
From vampire facials to micro needling, 5 non-invasive cosmetic proceduresWhile the plastic surgery trend shows no signs of abating as we emerge from the Covid-19 pandemic, not all women are willing to go under the knife in the name of vanity. Top surgeons in cities like London and New York have noticed more clients opting for minimally invasive cosmetic treatments that promise to give similar results to common plastic...
Read more »
World at rising risk of recession as inflation hits consumersLONDON - The global economy is increasingly at risk of sliding into recession, surveys showed on Tuesday (Aug 23), as consumers faced with generation-high inflation rein in spending while central banks are tightening policy aggressively just when support is needed. And supply chains yet to recover from the coronavirus pandemic have been further damaged by Russia's invasion of Ukraine and...
Read more »
Olympic champion Archibald describes trying in vain to save partner after cardiac arrestLONDON : Double Olympic champion Katie Archibald has described how she tried desperately to save her partner Rob Wardell after he suffered a fatal cardiac arrest at their home early on Tuesday.The 28-year-old Archibald, who won team pursuit gold at the 2016 Rio Games and the Madison in Tokyo alongside Lau
Read more »