February Crypto Exploits Fall Sharply as Market Turbulence Cools Attack Activity

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Losses from crypto hacks and scams totaled $26.5 million in February, the lowest monthly figure since March 2025, according to new data from blockchain security company PeckShield.

Although 15 separate incidents were identified over the course of the month, two exploits accounted for the majority of the damage. The most costly incident involved a $10 million theft from YieldBlox’s DAO-governed lending pool on Feb. 21, stemming from a price manipulation attack, PeckShield said in a post published Sunday on X.

Another major breach struck the decentralized identity protocol IoTeX the same day, with attackers extracting roughly $8.9 million through a private key exploit. In total, February’s losses were down 69.2% from January, when more than $86 million was siphoned from various projects.

A PeckShield spokesperson said that the month’s relatively subdued figures were partly due to the lack of outsized incidents. The industry did not see a repeat of headline-grabbing events such as the $1.5 billion Bybit hack in February 2025, which had dramatically skewed prior data.