Losses from cryptocurrency scams, exploits and hacks fell to $28.8 million in March, a sharp decline from February's $1.5 billion loss due to the Bybit hack.
According to an April 1 post from blockchain security firm CertiK on X, code vulnerabilities led to losses of more than $14 million, while wallet thefts accounted for more than $8 million.
The largest loss in March was a $13 million smart contract exploit on March 25, targeting the decentralized lending platform Abracadabra.money.
In another report on March 27, CertiK explained:
"The attacker was able to borrow funds, liquidate themselves, then borrow funds again without repaying them."