Crypto Security Firm Reports Recovery of Nearly $100 Million in Stolen Assets Following March Hacks

Crypto Security Firm Reports Recovery of Nearly $100 Million in Stolen Assets Following March Hacks

Crypto News – In a recent report released by blockchain security firm PeckShield, it has been revealed that almost $100 million worth of digital assets, stolen in various hacking incidents throughout March, have been successfully recovered. According to PeckShield’s data, a staggering 30 hacking episodes took place during the month, resulting in a total loss of $187 million.

Despite the substantial financial impact of these breaches, there is a glimmer of hope as over half of the pilfered funds, accounting for 52.8%, have been returned. Specifically, PeckShield highlights the recovery of $98.8 million in stolen digital assets over the course of last month.

Among the numerous hacking incidents, the Munchables breach stands out as the most significant in terms of financial losses. This incident, along with others such as the Curio hack, the Prisma Finance breach, the NFPrompt hack, and the WOOFi exploit, has drawn attention due to its severity.

Remarkably, a substantial portion of the recovered funds stems from the Munchables incident, where the hacker ultimately returned the stolen cryptocurrency following negotiations. Initially, the project reported losses estimated at $62 million after being exploited on March 26. However, in a surprising turn of events, the hacker, identified as one of Munchables’ own developers, relinquished the funds without demanding a ransom. Subsequently, Blast creator Pacman announced that $97 million in crypto, initially taken during the incident, had been secured by Blast core contributors.

Furthermore, there is optimism surrounding the Prisma Finance incident, which witnessed approximately $11 million in digital assets being siphoned off. Following the hack on March 28, the decentralized finance protocol temporarily froze its platform to conduct an investigation. However, within hours of the attack, the hacker claimed in an on-chain message that the breach was a “white hat rescue.” Currently, the protocol is engaged in discussions with the hacker, potentially leading to further recovery efforts.

Meanwhile, the Curio hack, occurring on March 24, saw losses initially estimated at $16 million but later revised closer to $40 million by PeckShield. Additionally, the breaches at NFPrompt and the WooFi decentralized exchange resulted in illegal access to approximately $10 million and $8.5 million, respectively.

As the cryptocurrency landscape continues to face persistent threats from malicious actors, the swift actions and collaborative efforts of security firms and affected platforms remain crucial in mitigating losses and recovering stolen assets.