TL;DR
- During March, according to PeckShield, almost $100 million in stolen digital assets were recovered in over 30 hacks, representing 52.8% of the estimated total losses of $187 million.
- The largest incident occurred in Munchables, where the hacker returned stolen funds after negotiations, initially valued at $62 million.
- Platforms like Curio, Prisma Finance, NFPrompt, and WOOFi also fell victim to hackers. In Curio’s case, losses could amount to $40 million according to PeckShield.
During the month of March, the blockchain security firm PeckShield reported that nearly $100 million in stolen digital assets were recovered in various hacks. In total, there were over 30 incidents throughout the month, with estimated losses reaching $187 million. Despite this, 52.8% of the stolen funds, amounting to $98.8 million, were successfully recovered.
The largest incident occurred in Munchables, a platform for NFT games. In this particular case, the hacker returned the stolen funds after a series of negotiations. Initially, the estimated losses amounted to $62 million, but ultimately a substantial amount of the stolen funds was recovered.
#PeckShieldAlert March 2024 witnessed 30+ hacks in the crypto space, resulting in ~$187.29 million in losses, with ~$98.8 million recovered.
This marks a decrease of ~48% from February 2024.#Top5 hacks:#Munchables (#Juice affected): $97 million (recovered)#CurioNetwork: $40… pic.twitter.com/u3zejt9Ygn— PeckShieldAlert (@PeckShieldAlert) April 1, 2024
Platforms such as Curio, Prisma Finance, NFPrompt, and WOOFi also suffered from the actions of thieves. For example, Curio experienced a breach in its MakerDAO-based smart contract on Ethereum. Initial losses were estimated at $16 million. However, PeckShield warned that the actual amount of lost funds could be closer to $40 million.
Hacked Funds Reduced by 23.1% Compared to 2023
On the other hand, Prisma Finance also fell victim to cybercriminals, but with an unexpected twist. After the attack, the apparent hacker claimed that their intention was to carry out a “white hat rescue,” which could lead to the recovery of the stolen funds.
According to a report by the company Inmunefi, the total losses from various hacks amounted to $337 million in the first quarter of 2024. This figure represents a 23.1% decrease compared to the first quarter of 2023, during which $437,483,543 worth of cryptocurrencies were stolen.
March witnessed several incidents that rocked the crypto industry, resulting in significant fund losses. However, it also demonstrated that, with a proper response and collaboration among the involved parties, it is possible to recover a substantial portion of the stolen digital assets.
