Cryptocurrency projects have incurred losses of $52 million due to hacks., 2026/04/01 15:01:19

In March, major cryptocurrency projects incurred losses totaling $52 million due to hacks. This figure is nearly double that of the previous month, where damages were approximately $26.5 million, according to analysts from the cybersecurity firm PeckShieldAlert.

The most significant incident in March involved the Resolv Labs protocol and the USR stablecoin. As a result of the breach, the attacker managed to issue unsecured tokens worth around $50 million, having spent only $100,000. The direct damage was estimated at about $25 million.

Following the attack, USR lost its peg to the dollar, causing its value to plummet by roughly 80%. This triggered a chain reaction in decentralized finance: the use of the token as collateral led to the accumulation of debt across several protocols, including Morpho Blue, Euler, and Fluid.

Another significant episode occurred with the Venus lending protocol and the THE token. The attack was based on price manipulation of the asset: after a sharp decline in quotes, a debt of approximately $2.18 million was created within the system. The platform was compelled to temporarily halt all operations involving THE, analysts explained. 

In addition to technical breaches, March also saw considerable losses due to attacks on cryptocurrency entrepreneurs and the use of social engineering. An anonymous user known as sillytuna lost around $24 million as a result of a combined scheme, while a client of the Kraken exchange lost about $18 million due to targeted social engineering, representatives of PeckShieldAlert reported.

Previously, blockchain security experts from CertiK reported that last year, losses from cryptocurrency ATM fraud in the United States reached $333 million. One of the reasons cited for the increase in stolen amounts was the use of deepfake technology by fraudsters based on artificial intelligence.