ChainCatcher message, NFT platform LiveArt has released an update on the theft incident. After soliciting feedback from the community, the team has decided to destroy all (197) stolen Seven Treasures NFTs to reduce the total supply. It will also compensate buyers of the stolen NFTs. LiveArt CEO Boris Pevzner stated that they have not communicated with the hacker because they do not want to negotiate; the company has filed a police report in Delaware, USA, and believes it may be able to identify the responsible party. (The Block)

ChainCatcher news, LiveArtX released an update on the stolen incident in the official Discord channel, stating that hackers gained access to the treasury wallet at 0:24 AM on October 17, stealing a total of 197 NFTs, of which 100 belonged to the treasury and 97 were originally intended for marketing activities. The hackers completed the sale by accepting bids. The team has since upgraded the contract and frozen the related NFTs, reminding users not to purchase. For users who have already purchased, the team will conduct buybacks and provide additional compensation.The team bears significant responsibility for this theft. They stated that they did not separate the operational wallet from the treasury wallet and failed to implement a multi-signature mechanism for the treasury wallet, with the private key being shared among multiple team members.Previous report, LiveArtX's official Twitter stated that the official wallet was stolen, and they are doing everything possible to resolve the issue while keeping the community updated.

ChainCatcher news, the official Twitter of the Web3 art and culture platform LiveArtX stated that the official wallet has been hacked, and they are doing everything possible to resolve the issue and will keep the community updated.According to data from NFTGo.io, the floor price of the Meta-morphic: Seven Treasures series NFTs issued by LiveArtX has dropped to 0.2 ETH, with a 24-hour decline of 83.87%. Additionally, the trading volume of this series has increased by 593.44% in the last 24 hours.Previously reported, in March of this year, LiveArtX launched the utility token ART and announced a $4.5 million investment commitment from venture capital firms including Animoca Brands, Binance, KuCoin, and Alameda Ventures. (Source link)