Crypto projects returned more than half of the $187 million stolen in March
Today (April 1), our colleagues at PeckShield announced that during March, more than 30 cases of hacker attacks on crypto projects were recorded, which led to the loss of funds totaling $187 million.
Despite the multimillion-dollar losses, 52.8% of the hacked funds were returned. Over the past month, it was possible to recover stolen digital assets totaling $98.8 million. This figure decreased by 48% compared to the previous month.
Despite the multimillion-dollar losses, 52.8% of the hacked funds were returned. Over the past month, it was possible to recover stolen digital assets totaling $98.8 million. This figure decreased by 48% compared to the previous month.
Total losses from hacking in 2024 by month. Source: PeckShield
According to our colleagues, there are five major incidents over the past month:
The Munchables incident became the leader in damage from a hacker attack,
followed by hacking Curio,
incident with Prisma Finance,
NFPrompt hack,
and the WOOFi exploit.
Munchables
The majority of the refund was due to an incident involving a non-fungible token (NFT) game based on the Blast network called Munchables. The project said on March 26 that it had fallen victim to exploitation, with initial losses of $62 million.
However, the hacker later returned the funds without demanding ransom. On March 27, Munchables discovered that one of its own developers was behind the attack.
Finally, Blast creator Pacman announced that $97 million in cryptocurrency resulting from the incident has been secured by the core members of the Blast project.
The majority of the refund was due to an incident involving a non-fungible token (NFT) game based on the Blast network called Munchables. The project said on March 26 that it had fallen victim to exploitation, with initial losses of $62 million.
However, the hacker later returned the funds without demanding ransom. On March 27, Munchables discovered that one of its own developers was behind the attack.
Finally, Blast creator Pacman announced that $97 million in cryptocurrency resulting from the incident has been secured by the core members of the Blast project.
Prisma Finance
The Prisma Finance incident, which resulted in the theft of approximately $11 million in digital assets, also has the potential to recover lost funds. On March 28, the decentralized finance protocol froze its platform to conduct an investigation of the hack.
As a result, the hacker initiated a correspondence with the DeFi protocol team about a possible return of funds. However, he posed a number of questions to the developers and stated that he had not received answers to them.
The Prisma Finance incident, which resulted in the theft of approximately $11 million in digital assets, also has the potential to recover lost funds. On March 28, the decentralized finance protocol froze its platform to conduct an investigation of the hack.
As a result, the hacker initiated a correspondence with the DeFi protocol team about a possible return of funds. However, he posed a number of questions to the developers and stated that he had not received answers to them.
Curio
On March 24, the Curio smart contract based on MakerDAO on the Ethereum platform was hacked. Despite initially estimating the loss at $16 million, PeckShield said it was actually closer to $40 million. This incident ranks second in terms of losses last month.
On March 24, the Curio smart contract based on MakerDAO on the Ethereum platform was hacked. Despite initially estimating the loss at $16 million, PeckShield said it was actually closer to $40 million. This incident ranks second in terms of losses last month.
NFPrompt and WooFi
The NFPrompt platform developed by Binance allowed hackers to gain unauthorized access to approximately $10 million.
Decentralized exchange WooFi suffered losses of approximately $8.5 million. The hacker used flash loans to borrow approximately 7.7 million WOO tokens and other assets. After repaying the loans, his profit was about $8.75 million.
The NFPrompt platform developed by Binance allowed hackers to gain unauthorized access to approximately $10 million.
Decentralized exchange WooFi suffered losses of approximately $8.5 million. The hacker used flash loans to borrow approximately 7.7 million WOO tokens and other assets. After repaying the loans, his profit was about $8.75 million.
Conclusion
According to Immunefi, during the first quarter, the damage to the crypto industry from fraud and hacker attacks reached $336 million. These losses are 100% related to the DeFi sector.
News about hacks and fraud in the crypto world, alas, is not at all rare. Both large DeFi sector companies and ordinary users must be careful in their actions and apply all necessary methods to preserve their funds.
Therefore, we remind you that you can check your crypto wallet for cleanliness, perform AML address verification, track a transaction - this and not only you can do in our solution Btrace. Free AML wallet verification for every new user. And if you do become a victim of crypto hacking or fraud, then contact our specialists for a blockchain investigation and return of stolen funds.
News about hacks and fraud in the crypto world, alas, is not at all rare. Both large DeFi sector companies and ordinary users must be careful in their actions and apply all necessary methods to preserve their funds.
Therefore, we remind you that you can check your crypto wallet for cleanliness, perform AML address verification, track a transaction - this and not only you can do in our solution Btrace. Free AML wallet verification for every new user. And if you do become a victim of crypto hacking or fraud, then contact our specialists for a blockchain investigation and return of stolen funds.
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