NFT-platform LiveArtX claimed its wallet was hacked
The value of Seven Treasures NFT, released on this project, fell 83% overnight
NFT-marketplace LiveArtX reported on Twitter that its wallet had been hacked. The project command said they are doing their best to solve the issue. The project command said they are doing everything possible to solve the issue.
LiveArtX is a digital art blockchain project launched in January of this year. The platform collaborates with auction houses, artists and other artists. The project has raised more than $4.5 million in funding from companies such as Animoca brands, Kucoin and BNB Chain, according to WuBlockchain.
Amid the news of the wallet hack, the minimum price of LiveArtX's Seven Treasures collection tokens fell 83% in 24 hours to 0.2 ETH, according to analytics platform NFTGo. The project's capitalization collapsed by 53% in 24 hours, while the trading volume of these tokens increased by 612%, indicating a massive sell-off.
According to a study by blockchain analysts Elliptic, between July 2021 and July 2022, more than $100 million worth of NFT thefts were reported, bringing criminals an average of $300,000 per attack. The most tokens (4,647) were stolen in July 2022.
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