one of Live Art X‘s official wallet was compromised around 19:00 UTC on October 16th. kure blockchain.
LiveArtX is an NFT platform known for its NFT line. CloisonneThe platform recently received over $4.5 million in strategic investments from various investors including Animoca Brands, BNB Chain Fund and KuCoin.
Shortly after the compromise, LiveArtX announced via their official Twitter account that they were working on the issue.
We are doing everything we can to resolve the issue of compromised wallets and keep our community up to date.
— Live Art (@LiveArtX) October 16, 2022
Since then, the team has not released any updates on the issue. Meanwhile, the community is demanding a refund and accusing LiveArt of committing fraud.
Their NFT line, Seven Treasures, is sinking while the team is busy fixing compromises.
According to data from high seasThe price of Seven Treasures recorded a harp drop on October 16, shortly after the wallet was compromised.
The average price of the October 15th collection was around $1,493 (1.14 ETH) with a trading volume of $5,946 (4.54 ETH). On October 16th, the average price recorded a 95.07% drop to $73.52 (0.56 ETH).
The trading volume jumped about 659% to reach $45,163 (34,48 ETH). This shows the rapid sell-off of the Seven Treasures NFT.