• Crypto thefts fell 48% month-over-month to $79 million in March
• Blockchain security firm CertiK reported a surge in stolen funds recovery, with $69 million returned in March
• Major thefts included $12.4 million from Prisma Finance via a flash loan attack and $10 million from NFPrompt
Crypto hacks saw a consecutive monthly decline with malicious players stealing roughly $79 million from decentralized finance projects in March. The fall represents a 48% decrease from the $160 million stolen in February, according to blockchain security firm CertiK.
Major Thefts
According to CertiK, Prisma Finance lost the most significant amount in March. The project was a victim of a flash loan attack that resulted in a loss of around $124 million. The perpetrator self-proclaimed as a white-hat vowed to restore the stolen funds after an online conference held by the project’s team. During the event, the hacker demands that the project’s team disclose their identities and issue a public apology.
Meanwhile, another major incident during the month was the $10 million stolen from NFPrompt, a content generation platform.
Other significant incidents from the month involve the NFT Platform Remilia and Web3 gaming platform Super Sushi Samurai which lost approximately $47 million and $46 million respectively.
Asset Return
Amid a decline in theft activities, asset returns have surged. According to CertiK’s data, owners have reclaimed about $692 million, a substantial rise from the $78 million returned in February.
Notably, one of the headline-grabbing asset returns occurred on the Ethereum layer-2 network Blast-based gaming platform Munchables. The project’s core developer cum North Korean attacker voluntarily returned the $62 million stolen from the platform without demanding any ransom.
Conclusion
Crypto hacks saw a 48% month-over-month decline in March to $79 million stolen. However, asset returns surged significantly to $692 million as some funds were voluntarily returned. While theft activities slowed down, crypto still remains vulnerable to attacks.
