Recovered: $100M in Digital Assets Lost to March Hacking Spree
Summary:
Blockchain security company, PeckShield, has reported the recovery of nearly $100 million of digital assets stolen in hacking incidents throughout March. Over 30 hacking cases led to losses of $187 million. Top incidents for the month include cyber attacks on Munchables, Curio, Prisma Finance, NFPrompt and WOOFi. Primarily, the stolen funds from the Munchables NFT game were returned without a ransom demand, with the hacker revealed as one of its developers. Other significant breaches, including those on Prisma Finance, Curio, NFPrompt, and WooFi are also reported.
In March, approximately $100 million in stolen electronic assets were recovered, as reported by blockchain security group PeckShield. It revealed on April 1, PeckShield reported that over 30 hack attacks transpired within that month, leading to the loss of $187 million in funds.
However, despite the tremendous loss, 52.8% of the hacked finances were successfully reclaimed. PeckShield confirmed that they recovered $98.8 million of stolen electronic assets in March. The cybersecurity firm also detailed the top five hack attacks for that month. The Munchables case recorded the highest losses from a cyber attack. It preceded the digital thefts at Curio, Prisma Finance, NFPrompt and the WOOFi utilisation.
The vast majority of reclaimed finances stemmed from the Munchables attack, involving an NFT (non-fungible token) game on the Blast network. Munchables announced that it suffered an exploit on March 26, with preliminary losses estimated at $62 million. However, the hacker later returned the entire stolen fund without asking for a ransom. Munchables later discovered that the hacker was one of their developers. In the end, the Blast network's architect, Pacman, revealed that Blast's primary contributors had secured $97 million in stolen crypto from the Munchables incident.
In addition, the incident involving Prisma Finance that resulted in approximately $11 million in stolen digital assets might also see a recovery. After freezing its platform to probe the hack on March 28, an on-chain message from the attacker claimed it was a "white hat rescue". The protocol is presently negotiating with the hacker, potentially leading to fund recovery.
Moving on, the Ethereum-based smart contract of Curio on MakerDAO was compromised on March 24. Although early estimates pegged the losses at $16 million, PeckShield suggests the figure is closer to $40 million, ranking it second highest in losses last month.
Other significant breaches include the Binance-backed platform NFPrompt losing around $10 million, and WooFi decentralized exchange suffering around $8.5 million in losses.
Published At
4/1/2024 1:08:05 PM
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