During March 2024, the cryptocurrency market faced challenges and significant losses totaling $79 million primarily due to various security breaches such as exploits, hacks, and scams. CertiK Alert, a blockchain security firm, reported that this loss was 48% lower than what the market experienced in February 2024. The breakdown of losses includes exit scams, flash loans, and exploits amounting to $5.7 million, $21.9 million, and $52.1 million, respectively. Impressively, exploiters returned $69.2 million worth of crypto assets back to their original sources.

Numerous firms suffered major incidents, with Prisma Finance leading in losses of $12.4 million, followed by NFPrompt ($10 million), Remillia ($4.8 million), Super Sushi Samurai ($4.6 million), NetMind ($2.5 million), Unizen ($2.2 million), Mozaic Fi, Dolomite, WILDER, and OrdiZK.

Prisma Finance, a platform for decentralized liquid staking, encountered significant financial setbacks. The exploiter acknowledged the safety of the lost funds, emphasizing the need for stricter contract audits and developer responsibility. The current status of the stolen funds remains uncertain.

In addition to these losses, major cryptocurrencies like Bitcoin, Tron, Chainlink, Cardano, Ripple, and others faced challenges in gaining momentum. Over the last 30 days, Bitcoin saw a price surge of over 12%, while Cardano's ADA, TRON, Chainlink's LINK, and Ripple's XRP experienced declines of more than 15%, 13%, 12%, and 2.78%, respectively.