LiveArtX Destroys All 197 Stolen NFTs, to Compensate Buyers of Stolen NFTs

LiveArt opted to destroy the stolen NFTs to reduce the total number in circulation after asking for community feedback on how to proceed. It also will compensate buyers who purchased the NFTs. The company has filed a police report in Delaware and believes it may be able to identify the person responsible. LiveArt CEO Boris Pevzner said they have not communicated with the hacker as they did not wish to negotiate.

Previously, LiveArtX had 197 NFTs stolen, and the platform has upgraded its contracts and frozen the stolen NFTs.