The NFT-powered platform LiveArtX focused on curating fine art NFTs, had its Seven Treasures NFT collection\u2019s floor price drop by 95% after a digital wallet hack. Accordingly, the official wallet was compromised at 19:00 UTC on October 16th, and things have been going downhill since.\u00a0 While the team is struggling to find a solution, NFT collectors are starting to doubt its legitimacy on the market.<\/p>\n On October 16th, LiveArtX fell victim to a hack that compromised its official wallets. The concerning announcement, posted via Twitter after 19:00 UTC, has worried minters of the platform\u2019s NFT collection Seven Treasures.<\/p>\n In fact, the digital assets\u2019 average price on OpenSea had dropped by 95.07%. To clarify, the trading volume went down to $73,52 compared to its previous price of $1,493.<\/p>\n \u201cWe are doing all we can to resolve the issue with the compromised wallet and we will keep the community updated,\u201d the team wrote in a short tweet.<\/p>\n Of course, the NFT community quickly responded. Many collectors accused the platform of scamming its NFT holders, and some users even asked for a refund. However, the LiveArtX team didn\u2019t reply to any message, nor did they update the community.<\/p>\n In essence, LiveArtX is a digital marketplace for fine art NFTs. Launched at the beginning of 2022, the platform supports traditional and digital artists\u2019 journeys in the Web3 universe.<\/p>\n For instance, its White Label feature allows artists to create their own NFT marketplaces depending on each gallery\u2019s niche. Meanwhile, the LiveArtX Developer Lab facilitates smart contract customization for all users.<\/p>\n Considering its fully-doxxed founding team and promising progress throughout the year, the LiveArtX team\u2019s response to the hack surprised many collectors. Seven Treasures NFT holders are waiting for updates, while the community is still debating the incident.<\/p>\n![\"image](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/10\/liveartx-seven-treasures-nft-hack-scaled.jpg.webp)
\n<\/picture>\n<\/noscript>How did the LiveArtX digital wallets fell victim to a hack?<\/span><\/h2>\n
![\"Twitter](\"https:\/\/nftevening.com\/wp-content\/uploads\/2022\/10\/liveartx-nft-hack-seven-treasures.jpg.webp)
\n<\/picture>\n<\/noscript>What is LiveArtX?<\/span><\/h2>\n