February saw crypto-related losses fall to their lowest level since March 2025, with $26.5 million stolen according to blockchain security firm PeckShield. This marks a substantial decrease from January's figures.
The majority of February's losses stemmed from two major exploits: a $10 million theft from YieldBlox's lending pool via price manipulation on February 21, and an $8.9 million loss from the decentralized identity protocol IoTeX due to a private key exploit on the same day.
These figures represent a 69.2% month-on-month decline. Analysts suggest the drop is due to tighter risk controls, improved monitoring, and a market focus shifting from protocol exploits to liquidity management during periods of high volatility. Security improvements, including enhanced audits and AI-driven vulnerability detection, are also contributing factors.
While major hacks were absent, phishing remains a persistent threat, though losses from wallet drainer attacks have also declined. Experts emphasize the critical need for robust security measures like multi-sig cold storage for both institutions and individuals to safeguard assets.
