When one looks at the volume of digital assets stolen it is relatively low, but their cumulative value is anything but. 16 tokens with a value of

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When one looks at the volume of digital assets stolen it is relatively low, but their cumulative value is anything but. 16 tokens with a value of $2.28 Million underlines the growth in the NFT market and in this case the risks to buyers and sellers of NFT trading. Albeit it looks like the theft was from a client wallet and not the exchange.

Is the way forward centralisation and permissioned NFT trading, to secure platforms and transactions and market regulation? I wonder what the sentiment would be from a regulator if $2.28million in assets were stolen from a regulated platform, one would assume an investigation that could lead to legal action.

The question is, do examples such as this support the need for regulatory control of digital assets and trade governance processes. Strengthening the need for confirmation and reconciliation processes for trade execution? Or is it a blip in the growing pains of a new market and asset class?

Michael Clohisy‚ Richard Dutton‚ Richard Lufkin‚ Richard Cardrick Phil Rubin‚ Dean Armstrong QC‚ Racheal Muldoon

#36commercial‚ #cryptocurrency‚ #cryptoregulation‚ #cryptoassets‚ #crypto‚ #nfts‚ #nft‚ #cyberlaw‚ #consumerprotection‚ #regulations

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