Blockchain security firm PeckShield reports that crypto related hacks and scams totaled $26.5 million in February, marking the lowest monthly loss since March 2025. The figure represents a 69.2% decline compared to January, when losses exceeded $86 million.
Out of 15 recorded incidents during the month, two exploits accounted for the majority of the damage. The largest involved a $10 million price manipulation attack on YieldBloxâs DAO-managed lending pool on Feb. 21. The second major incident targeted IoTeX, where attackers exploited a compromised private key, resulting in losses of approximately $8.9 million.
Notably, February did not experience any large-scale âmega-hacksâ comparable to the $1.5 billion breach of Bybit in early 2025, which significantly inflated prior monthly totals.
Market Volatility and Stronger Security Measures
Analysts suggest that heightened market volatility may have temporarily reduced exploit activity, as traders focused on liquidity and deleveraging during sharp price swings. Bitcoinâs dip below $70,000 earlier in the month contributed to a broader market correction that shifted attention away from protocol vulnerabilities.
At the same time, improved risk controls, stronger auditing standards and enhanced real-time monitoring systems may be helping to reduce successful attacks. Institutions are increasingly favoring platforms with mature security frameworks.
Phishing Remains a Persistent Threat
Despite the overall decline, phishing continues to pose a significant risk. While wallet drainer-related losses have fallen sharply in 2025, social engineering attacks remain widespread. Security experts emphasize the importance of multi-signature cold storage solutions and strict private key management to mitigate ongoing threats in the evolving crypto landscape.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.