Why Do Some NFTs Get Stolen Despite Security?

NFTs are supposed to be secure. They do live on the blockchain, after all — a system that’s immutable, transparent, and nearly hack-proof, right? So why are people reportedly having expensive NFTs stolen?

The fact is, the blockchain itself is seldom hacked. The vast majority of NFT thefts also occur due to human error and outside vulnerabilities. Wallets are compromised when private keys or seed phrases are stolen, generally through phishing scams or malware.

We sometimes link our wallets to suspicious third-party apps or counterfeit marketplaces, creating an opening for scammers. Something as simple as weak or reused passwords can open the door to theft.

And then there are rug pulls — illusory NFT projects that disappear after raising money. And don’t forget that a lot of NFT holders are new to crypto, so they’re ripe suckers for not knowing how to verify smart contracts, not clicking on phishing links or interested in how to store their private keys.

While your NFT resides on a secure blockchain, its safety is only as secure as your own security habits. A hardware wallet, strong passwords, two-factor authentication, and verifying sources can help prevent you from losing your digital treasures.

Have you ever experienced or narrowly avoided a theft? Let’s share tips and stories so we can all keep our collections safe.