Following the theft of nearly $3 million worth of non-fungible tokens (NFTs) from the trading platform NFT Trader, Nansen’s NFT-500 and Blue-Chip-10 indexes remained stable.
When expressed in ether (ETH), the Nansen NFT-500 index is down 0.88%, while the Blue Chip 10 index is down 0.51%. The hack resulted in the theft of NFTs valued at close to $3 million; the attacker is requesting 120 ETH ($260,000) as ransom to be paid back.
After Greg Solano of Yuga Labs contributed to a bounty, a community effort spearheaded by the decentralised autonomous organisation (DAO) Boring Security resulted in the recovery of almost the entire stolen collection.
Organisations known as DAOs are run by code rather than by leaders. Ownership over digital goods is given to collectors and gamers by NFTs, which are cryptocurrency assets.
Although the hack didn’t significantly affect the market, Nansen’s NFT-500 index has seen a 49% decrease in ether value year to date, while its Blue Chip 10 index has seen a 45% decrease. Meanwhile, year-to-date gains in ether have exceeded 80%.