{"id":126209,"date":"2025-04-01T05:15:41","date_gmt":"2025-04-01T05:15:41","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126209"},"modified":"2025-04-01T05:15:41","modified_gmt":"2025-04-01T05:15:41","slug":"crypto-exploit-scam-losses-drop-to-28-8m-in-march-after-february-spike","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126209","title":{"rendered":"Crypto exploit, scam losses drop to $28.8M in March after February spike"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsLosses to crypto scams, exploits, and hacks dropped to just $28.8 million in March, far from February\u2019s spike to $1.5 billion in losses after the Bybit hack.<br \/>\nCode vulnerabilities accounted for the most losses, at over $14 million, while wallet compromises were used to steal over $8 million, blockchain security firm CertiK said in an April 1 post to X.<br \/>\nThe most significant loss for the month was the $13 million March 25 smart contract exploit of the decentralized lending protocol Abracadabra.money.<br \/>\nAfter accounting for returned funds, a total of $28.8 million was stolen through exploits, hacks and scams in March. Source: CertiKIn a separate March 27 report, the blockchain security firm said, \u201cThe attacker was able to borrow funds, liquidate themselves, then borrow funds again without repaying them.\u201d<br \/>\n\u201cThis was due to the liquidation process not overwriting records in RouterOrder that counted as collateral, allowing the exploiter to falsely borrow additional funds after liquidation,\u201d CertiK said.<br \/>\nThe protocols team has offered a 20% bounty, double the standard 10%, in exchange for the return of the funds, according to CertiK. So far, no public updates have been given on whether any funds have been returned.<br \/>\nThe second highest monthly loss was restaking protocol Zoth after its deployer wallet was compromised and the attacker withdrew over $8.4 million in crypto assets.\u00a0<br \/>\nMarch crypto losses reduced after hacker returned some funds\u00a0<br \/>\nSome of the stolen funds in March were returned. In total, CertiK says over $33 million was stolen for the month, but decentralized exchange aggregator 1inch successfully recovered most of the $5 million stolen in a March 5 exploit after negotiating a bug bounty agreement with the attacker.<br \/>\nThe total figures, however,\u00a0exclude an unknown Coinbase user\u00a0who crypto sleuth ZachXBT claims lost 400 Bitcoin (BTC), worth $34 million. At the same time, ZachXBT said over $46 million could have been lost in March to phishing scams spoofing crypto exchanges.<br \/>\nRelated: DeFi protocol SIR.trading loses entire $355K TVL in \u2018worst news\u2019 possible<br \/>\nAustralian federal police said on March 21 that they had to alert 130 people of a message scam aimed at crypto users that spoofed the same \u201csender ID\u201d as legitimate crypto exchanges.\u00a0<br \/>\nX users also reported on March 14 of messages spoofing crypto exchanges trying to trick users into setting up a new wallet using pre-generated recovery phrases controlled by the fraudsters.<br \/>\nMagazine: Mystery celeb memecoin scam factory, HK firm dumps Bitcoin: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/crypto-losses-exploits-scams-drops-29-million-march-certik?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsLosses to crypto scams, exploits, and hacks dropped to just $28.8 million in March, far from February\u2019s spike to $1.5 billion in losses after the Bybit hack. Code&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126209"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126209"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126209\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126209"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}