LiveArtX NFTs platform wallet has been compromised

LiveArtX, a platform for non-fungible tokens (NFTs), has reported that one of its wallets has been compromised in what appears to be the latest cryptocurrency theft.

There are currently few details available, but on October 17, the web3 art and culture portal stated that it is taking all necessary precautions in response to a “compromised wallet.”

LiveArt’s Twitter account says that they are doing all they can to resolve the issue with the compromised wallet. The first tweet from 12 hours ago received replies demanding refunds and accusing the project of pulling a fast one.

Colin Wu, a Chinese reporter covering the blockchain business, also noted that the price of LiveArtX’s Seven Treasures series NFT had dropped more than 80% in the last day.

Huang Yuxing, a Meta-Morphic artist, calls his Seven Treasures collection “a generative art project that takes you on a journey through nature.” The collection, which debuted in September 2022, contains 997 products.

The floor price is 0.2 ETH, or about $260, according to the OpenSea NFT listings website. On October 15, the average price was 1.14 ETH (about $1,500), but now that price has fallen over 70% to 0.36 ETH.

According to NFTGO data, the project’s market capitalization has dropped 53% in the last day, falling to 586 ETH (about $765,000).

However, the 24-hour traffic has increased by over 600%, which may be related to NFTs moving about and wallets being emptied.