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$100M Recovered from March Hacks, says PeckShield

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$100M Recovered from March Hacks, says PeckShield

According to data from PeckShield, a blockchain security firm, nearly $100 million worth of stolen digital assets from various hacking incidents in March have been recovered. PeckShield reported that there were over 30 hacking incidents that resulted in a loss of $187 million in funds last month. Despite the significant losses, 52.8% of the hacked funds were successfully returned. In total, $98.8 million in stolen digital assets were recovered in March.

PeckShield also highlighted the top five hacking incidents that occurred last month. The incident with the highest losses involved a hacking incident related to the nonfungible token (NFT) game called Munchables on the Blast network. Initial estimates put the losses at $62 million, but the hacker later returned the funds without demanding a ransom. It was later revealed that the hacker was one of the developers of Munchables. The Blast creator Pacman announced that $97 million in cryptocurrency taken from the incident had been secured by Blast core contributors.

The second incident involved Prisma Finance, a decentralized finance (DeFi) protocol, which had around $11 million in digital assets stolen. The hacker claimed that the incident was a “white hat rescue” in an on-chain message. The protocol is currently in discussions with the hacker, raising the possibility of recovering the lost funds.

Curio, a platform utilizing MakerDAO-based smart contracts on Ethereum, experienced a breach on March 24. Although initial estimates put the losses at $16 million, PeckShield believes the actual amount is closer to $40 million. This incident ranked second in terms of the highest amount lost last month.

NFPrompt, a platform incubated by Binance, was targeted by hackers who illegally accessed approximately $10 million. WooFi, a decentralized exchange (DEX), suffered losses of about $8.5 million. These incidents contributed to the total losses incurred in March.

The recovery of almost $100 million in stolen digital assets highlights the efforts of PeckShield and other cybersecurity firms in combating hacking incidents. While the losses in March were substantial, the fact that more than half of the hacked funds were returned is a positive outcome. It is crucial for individuals and organizations within the blockchain ecosystem to implement robust security measures to prevent and recover from such incidents.

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