Inside DeFi's $187M Losses: How a $99M Turnaround Changed the Game

Amidst a surge in crypto hacks, blockchain security firm PeckShield's March 2024 report discloses over 30 incidents, amounting to approximately $187.29 million in losses.

DeFi sector hit but recovery of $99 million brings hope, hacker returns funds after devastating loss to Munchables game protocol

Despite setbacks hindering DeFi sector progress, the recovery of almost $99 million during the same period offers a glimmer of hope. This marks a significant 48% decrease from February 2024.

Munchables, a Web3 gaming protocol on the Blast network, suffered the most devastating breach, resulting in a staggering $97 million loss. Surprisingly, the hacker, identified as "Werewolves0493" on GitHub, voluntarily returned the funds without demanding ransom.

Blast founder Pacman confirmed the return of the stolen funds, crediting the network's core contributors for securing the entire stash.

Curio Network's Smart Contract Vulnerability Leads to $40 Million Loss, as Hacking Incidents Multiply Across the DeFi Sector

Real-world asset (RWA) liquidity firm Curio Network faced a smart contract exploit, leading to $40 million in losses due to a flaw in voting power privilege access control.

Decentralized finance (DeFi) protocol Prisma Finance encountered losses nearing $11.6 million, currently under negotiation.

NFPrompt, a Binance-incubated platform, suffered a $10 million hack, while WooFi incurred losses of $8.5 million due to a targeted attack on its swap feature on the Arbitrum network.