LiveArtX Burned 197 NFT Stolen And Compensated Users

October 18, 2022 - Around 2 mins mins to read

NFT platform LiveArtX burned 197 NFTs stolen from its wallet in a hack on Sunday. The company promises to refund those who buy stolen NFTs. The hack has been reported and will not be negotiated with the hacker.

In an interview with The Block, NFT platform LiveArtX released an update on the stolen incident. The platform has now detected and burned 197 stolen NFTs. Users who purchased stolen NFTs are also committed to compensation.

LiveArt CEO Boris Pevzner, who did not contact the hackers because they did not want to negotiate, has filed a police report in the US state of Delaware and believes that those responsible can be identified.

“We were in two minds about this but decided to give people the benefit of the doubt,”.
Boris Pevzner, CEO and co-founder of LiveArt, told The Block

As updated in a previous Coincu News article, on May 16, NFT platform LiveArtX announced on its official social platform that the official wallet has been stolen and is doing its best to resolved and will update the community.

Their official wallet was stolen and some of the NFT reserves were sold. They are doing their best to resolve it and will keep the community updated.

At that time, the NFT floor price of the Meta-morphic: Sevenasure series issued by the NFT platform LiveArtX fell to 0.2ETH, down 83.87% in 24 hours. In addition, the transaction volume of this chain increased by 597.76% in 24 hours. Currently, the floor price has been adjusted to 1.35 ETH.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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