Nearly $100M in Crypto Hacks Recovered in March

Close to $100 million in digital assets have been recovered following crypto hacks in March, according to data compiled by blockchain security company PeckShield.

On April 1st, PeckShield announced that more than 30 crypto hacks occurred in March, resulting in damages totaling $187 million.

Despite losses amounting to millions of dollars, 52.8% of the stolen funds have been recovered. PeckShield stated that $98.8 million in digital assets were recovered in the previous month.

Crypto hacks highlight vulnerabilities in the digital financial system

PeckShield also highlighted the five largest crypto hacks in the month. The Munchables incident ranked highest in terms of severity. This was followed by the Curio hack, the Prisma Finance incident, the NFPrompt attack, and the WOOFi exploit.

The majority of recovered funds came from incidents related to the Munchables token game based on the Blast network. On March 26th, the project announced it had been exploited, with initial estimated damages reaching $62 million.

However, the hackers later returned the funds without demanding a ransom. On March 27th, Munchables identified the attacker as one of their own developers.

Finally, Pacman – the founder of Blast – announced that $97 million in stolen cryptocurrency had been securely safeguarded by core Blast members.

Meanwhile, the incident involving Prisma Finance, with around $11 million in stolen digital assets, also has the potential for recovering the lost funds. On March 28th, the decentralized finance protocol froze its platform to investigate the crypto hack.

However, about 6 hours after the attack, the hackers sent a message on-chain stating that it was a “white hat rescue mission.” Currently, the protocol is negotiating with the hackers, which may lead to the recovery of the stolen funds.

On March 24th, the smart contract of Curio based on MakerDAO on Ethereum was compromised. Although the initial estimated damage was $16 million, PeckShield believes the actual figure is closer to $40 million. The security company noted that this incident ranked second in terms of loss value in the previous month.

The NFPrompt platform, incubated by Binance, was unlawfully accessed by hackers for around $10 million, and the decentralized exchange WooFi suffered damages of approximately $8.5 million.

(5 votes)