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Cryptowire Report: Recovered Crypto Funds in March
Recent data from PeckShield reveals that around $100 million in stolen cryptocurrency funds from hacking incidents in March have been successfully recovered. Despite significant initial losses, a notable 52.8% of the hacked funds were returned to their rightful owners.
Details of Recovered Funds
- The majority of the recovered funds were linked to the Munchables incident.
- The hacker behind the Munchables breach returned the stolen cryptocurrency following negotiations.
Cryptowire Analysis: Decline in Crypto Hacks for March
In March 2024, there were over 30 reported hacks in the crypto space, resulting in losses totaling approximately $187.29 million. However, there was a positive note as around $98.8 million of the stolen funds were recovered, marking a 48% decrease from the previous month.
Top Incidents in March
- Munchables (Juice affected): $97 million (recovered)
- CurioNetwork: $40 million
- Prisma Finance breach
- NFPrompt hack
- WOOFi exploit
Recovered Funds and Ongoing Negotiations
Most of the recovered funds were associated with the Munchables incident, a non-fungible token game on the Blast network. The hacker responsible for the breach returned the funds without any ransom demands, showing a positive turn of events.
Similarly, in the Prisma Finance incident, negotiations are underway after the hacker claimed the breach was a “white hat rescue.” This incident involved approximately $11 million in stolen digital assets.
Summary of Q1 2024: Decline in Hacking Activities
During the first quarter of 2024, the total losses from hacking and fraudulent activities amounted to around $336.3 million, showing a decrease from the previous year. A total of 46 hacking incidents and 15 cases of fraudulent activities were reported during this period.
Key Highlights
- Two projects suffered significant losses, totaling $144.5 million.
- Ethereum and BNB Chain were the most targeted blockchains, with Ethereum experiencing the highest number of attacks.
- January had the highest monthly losses in Q1, with a significant exploit on Munchables.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
