Yigit Taha OZTURK 
Losses from crypto scams, exploits, and hacks fell to $28.8 million in March, a significant drop from February’s $1.5 billion loss following the Bybit hack.
According to blockchain security firm CertiK, the most significant loss was the $13 million smart contract exploit of the Abracadabra.money decentralized lending protocol on March 25.
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Major Code Vulnerabilities and Wallet Breaches
- Code vulnerabilities accounted for over $14 million in losses.
- Wallet compromises resulted in over $8 million being stolen.
- The Zoth protocol suffered a $8.4 million loss after its deployer wallet was compromised.
Some Funds Were Recovered!
While over $33 million was stolen in total, 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.
However, blockchain investigator ZachXBT claimed that an unidentified Coinbase user lost 400 Bitcoin ($34 million).
Additionally, the Australian Federal Police warned 130 people on March 21 about a crypto scam impersonating exchange sender IDs.
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