Blockchain Detectives PeckShield Recoup Over $98M from Crypto-Hacking Spree

In a month marred by rampant cyber heists, blockchain detectives at PeckShield managed to claw back nearly $100 million worth of digital assets stolen by hackers in March.

PeckShield investigation uncovered 30+ incidents netting over $187 million in total stolen crypto assets.

The most lucrative score for cyber frauds came from the NFT gaming platform Munchables, where a hacker initially made off with around $62 million in funds. However, after tense negotiations, a significant portion was successfully recovered.

#PeckShieldAlert March 2024 witnessed 30+ hacks in the crypto space, resulting in ~$187.29 million in losses, with ~$98.8 million recovered.
This marks a decrease of ~48% from February 2024.#Top5 hacks:#Munchables (#Juice affected): $97 million (recovered)#CurioNetwork: $40… pic.twitter.com/u3zejt9Ygn

— PeckShieldAlert (@PeckShieldAlert) April 1, 2024

Other victims included Curio, Prisma Finance, NFPrompt, and WOOFi. Curio’s Ethereum-based smart contract was drained of an estimated $16 million, though PeckShield warned the actual plunder could exceed $40 million.

In a twist, the Prisma Finance attacker claimed their heist was merely a “white hat rescue” operation, raising hopes the loot could find its way back.

Read Also: Crypto Heist: November Records Highest Monthly Losses in 2023

Crypto Hackers Racked Up Huge Gains in February: PeckShield

The March mayhem came on the heels of an immensely profitable February for crypto hackers. Security firm PeckShield reported that $360.83 million was swiped across 21 hacking incidents last month, nearly double January’s totals.

The biggest February breach involved the crypto gaming platform Playdapp, which saw over $290 million worth of its PLA token pilfered. The attacker initially minted $30 million before exploiting a vulnerability to create over 1.5 billion PLA tokens valued at $253.9 million.

Despite Playdapp’s $1 million bounty offer for returning the funds, the hacker laundered the crypto haul across multiple platforms.

While the March madness saw cyber thieves clean up, the overall $337 million in first quarter crypto hacking losses marked a 23.1% decline from the same period last year, when a staggering $437+ million was stolen.

According to incident tracker Inmunefi, March’s record of digital crypto fraudsters exposed the persistent threats facing the ecosystem. But it also highlighted how swift action and cooperation can sometimes blunt the impact of hacks.

Despite the recoveries, nearly $90 million looted in March remains unaccounted for – a sobering reminder that blockchain detectives must stay ever-vigilant against emerging cyber threats.