Following a significant spike in losses to scams and exploits in February, crypto theft decreased significantly in March. Losses reached just $28.8 million, according to blockchain security firm CertiK, marking a substantial drop from the $1.5 billion lost following the Bybit hack. While the majority of losses stemmed from code vulnerabilities (over $14 million) and wallet compromises (over $8 million), a noteworthy $13 million exploit of Abracadabra.money’s smart contract protocol contributed to the March total. CertiK reported that an attacker exploited this vulnerability, gaining funds through borrowing and liquidation, then borrowing again without repayment. The attack highlights how vulnerabilities in blockchain protocols can allow for fraudulent activities.