The cryptocurrency market experienced a significant decrease in losses due to hacks in March, with over $187 million lost but nearly $99 million recovered. This data was revealed by PeckShield, showing a 48% decrease in losses compared to February. March saw more than 30 hacks in the crypto space, resulting in $187.29 million in losses, with $98.8 million recovered.

Top 5 hacks in March included Munchables with $97 million stolen (recovered) and Curio Network with $40 million stolen. PeckShield’s analysis highlighted Munchables as the project most affected by stolen value, with a team member associated with North Korea allegedly stealing over $60 million in crypto.

Although losses decreased compared to February, they still exceeded January’s numbers, which saw $182.5 million in losses. In the first quarter of 2024, the cryptocurrency industry saw a 17.5% reduction in losses compared to the same period in 2023. Hacking remains the predominant method of crypto theft, accounting for 95.6% of total losses, while fraud makes up only 4.4%.

Overall, the cryptocurrency market is evolving, with both challenges and opportunities for investors. Stay informed and stay safe in this dynamic field of finance.

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