NFT registration platform Premint, which over the weekend suffered a hack that saw over 300 NFTs stolen from users’ wallets, announced today that it intends to repay the hack’s victims.

In a live-streamed incident update this afternoon, Premint CEO Brenden Mulligan announced that the company, in collaboration with “a third-party, non-Premint employee” performed on-chain analysis this week to compile a list of all NFTs stolen during Sunday’s hack.

Over the course of this week, every associated crypto wallet on that list will receive a payment in Ethereum (ETH) equivalent to the collection floor price of every stolen NFT as of 10:00 a.m. PST this morning. Mulligan told Decrypt the total sum that Premint will repay to defrauded customers will amount to around 340 ETH, or just over $525,000. 

“I realize that the NFTs stolen were not all floor NFTs,” Mulligan said this morning. “Floor” refers to the cheapest available NFT of a given collection. Some of the NFTs stolen were considered rare and valued at a much higher market price than those priced at the floor. “You might feel like this compensation isn’t enough. But I don’t think there’s any other scalable and objective way to do this,” said the Premint CEO.

There are two prominent exceptions to that repayment policy: the two most expensive NFTs stolen on Sunday, a Bored Ape the hackers flipped for 89 ETH ($138,000), and an Azuki they sold for just over 10 ETH ($16,000). Mulligan announced today that Premint was able to buy both NFTs off their new owners at purchase price, and has since returned…

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