In March, the losses from encryption security incidents amounted to $158 million, a decrease of 62.5% year-on-year.

In March 2024, the total losses from security incidents in the Crypto Assets industry significantly decreased compared to February. More than 31 typical security incidents occurred that month, with losses caused by Hacker attacks, phishing scams, and Rug Pull amounting to approximately $158 million, a reduction of 62.5% from the previous month. Among them, the losses from attack incidents were about $116 million, a year-on-year decrease of 66.4%; losses from phishing scams were approximately $36.85 million, a rise of 129%; and Rug Pull losses were around $5.12 million, a decrease of 91.4%.

Major attacks with losses exceeding ten million dollars this month include: Munchables platform ($62.3 million), Curio Ecosystem ($16 million), and Prisma Finance ($11.6 million). Notably, three attacks on the Blast chain caused losses of $67.5 million, accounting for 58% of the total losses for the month. In addition, there were multiple phishing scams this month where individual addresses lost over a million dollars.

In terms of hacker attacks, there were 15 typical security incidents in March, with total losses of approximately $116.35 million. The main incidents include a loss of $8.75 million for the WooFi project due to a contract vulnerability attack, a loss of $2.6 million for Unizen due to an external call vulnerability attack, a theft of $760,000 from the Polyhedra Network wallet, and a loss of $2 million for the Mozaic project due to private key leakage. Among these, the most significant impact was the attack on the Munchables gaming platform, resulting in a loss of $62.3 million, suspected to be caused by hiring inappropriate developers.

In March, there were 9 typical cases of Rug Pull and phishing scams, resulting in losses of approximately 21.2 million USD. Multiple individual addresses suffered phishing attacks, with the highest single loss reaching 4.39 million USD. Additionally, projects like OrdiZK and Humanized_AI experienced Rug Pulls, with losses of 1.4 million and 660,000 USD respectively.

In terms of crypto asset cases, there were 7 typical cases this month. The police in Yuechi, Sichuan, cracked a virtual currency pyramid scheme involving over 200 million yuan; in Yuanan, Hubei, the first "digital collectible" fraud case was solved, involving over 12 million yuan; the police in Los Angeles recovered a stolen $6.9 million bitcoin mining machine; a British court ruled that a woman participated in a $4.3 billion bitcoin money laundering case. In addition, the US SEC has charged 17 people in connection with a $300 million Ponzi scheme.

In terms of blockchain policy, places like Shanghai and Shandong have introduced multiple policies to support the development of blockchain. Shanghai applies blockchain technology to tax management, while Shandong supports Jinan and Qingdao in building a leading blockchain industry zone. Many local governments are actively promoting the integration and development of blockchain with the real economy.

In terms of digital asset regulation, global regulatory attitudes are tightening. The EU prohibits the use of unrecognized self-custody wallets for encryption payments, the Hong Kong Monetary Authority has issued guidelines for Crypto Assets custody services, and Dubai has enacted new digital asset laws. Countries such as the UK, Indonesia, and South Korea have also successively introduced or updated their Crypto Assets regulatory policies.

Moreover, Nigeria has accused a trading platform of being involved in money laundering of $35.4 million; research shows that "pig butchering" scams have stolen over $75 billion globally in the past four years; approximately 30% of the income of "gold farmers" in chain games in the Philippines is twice the local minimum wage. These events reflect that the crypto assets industry still faces many regulatory and security challenges.