Crypto losses from hacks and scams fell to an eleven-month low in February, according to a report from blockchain security firm PeckShield.
Roughly $26.5 million worth of crypto assets were drained from the industry across 15 incidents in February, PeckShield said in a March 1 X post. The figure marks a 98.2% year over year decline compared to February 2025 and a 69.2% month over month drop from January, when more than $86 million was drained.
The majority of the month’s losses came from just two incidents. Over $10 million was lost in the YieldBlox hack after attackers executed an oracle price manipulation attack on the DAO-managed lending pool. Meanwhile, roughly $8.9 million was stolen from decentralized identity protocol IoTeX due to a compromised private key, even though IoTeX had initially said the amount was closer to $2 million.
Other notable incidents include roughly $3 million stolen from CrossCurve, and over $4 million in combined losses across two separate exploits targeting FOOM CASH and Moonwell.
A separate report from blockchain security firm CertiK put total February losses at nearly $37.7 million; however, the report also took into consideration phishing attacks that accounted for $8.6 million of the total.
Phishing attacks were the third most costly attack vector after wallet compromise, which led losses at $16.6 million, and price manipulation attacks, which accounted for $11.4 million, the report said.
For context, phishing attacks involve malicious actors tricking users into revealing sensitive information such as private keys or seed phrases, often through fake websites, social media messages, or impersonation schemes, ultimately allowing attackers to drain funds directly from victims’ wallets.
As previously reported by crypto.news, roughly $48 million worth of seized Bitcoin was stolen from South Korea’s Gwangju District Prosecutors’ Office, with phishing cited as a suspected cause.
