PeckShield: Nearly $100 million recovered from March hacks

From recently collected facts from blockchain security firm PeckShield, nearly $100 million in digital assets stolen in various hacks in March have been recovered. According to PeckShield, more than 30 hacking incidents occurred that month, resulting in a total loss of $187 million in digital assets.

Nearly 53% of stolen money has been recovered

Nevertheless, there is a silver lining as 52.8% of the stolen money, amounting to $98.8 million, has been recovered. PeckShield highlighted the five biggest incidents of March, with the Munchables incident leading the list of largest hack losses. Other notable incidents include the Curio hack, Prisma Finance, NFPrompt and the exploitation of WOOFi.

A significant portion of the recovered assets stemmed from the Munchables incident, a play for non-fungible tokens (NFTs) on the Blast network. After an exploit on March 26, which initially lost $62 million, the money was later returned by the perpetrator without demanding any form of ransom. It turned out that the hacker was one of the developers of the project. Ultimately, it was announced by Blast maker Pacman’s core contributors that $97 million worth of cryptocurrency had been secured.

More and more hacks give hope of recovery

The Prisma Finance incident, with a loss of approximately $11 million, also offers hope for recovery. After freezing the platform to investigate the hack, the hacker claimed it was a ‘white hat rescue’. Discussions are currently ongoing with the hacker, which may lead to the recovery of the stolen assets.

On March 24, a MakerDAO-based Curio smart contract on Ethereum was breached, with initial loss estimates of $16 million estimated closer to $40 million by PeckShield. This incident ranks second in terms of loss amount for the month.

Furthermore, Binance-backed platform NFPrompt was targeted by hackers with illegal access to around $10 million, while decentralized exchange WooFi suffered losses of around $8.5 million.