NewsBTC
Mar 2, 2026
2 0

BULLISH 📈 : Crypto hacks drop 69% in February as security improves

February saw a significant decline in crypto-related theft, with only $26.5 million in losses from hacks and scams, marking the smallest monthly figure in 11 months, as reported by PeckShield.

  • Two major attacks accounted for over 70% of February's losses:
    • YieldBlox suffered a $10 million loss due to token price manipulation.
    • IoTeX lost close to $9 million through a private key exploit.
  • This represents a 69% decrease from January's $86 million losses.

Factors contributing to the decrease include:

  • Absence of high-profile, billion-dollar breaches.
  • Market conditions such as Bitcoin dropping below $70,000, which redirected focus away from protocol attacks.

Improved Security Measures

  • Stricter risk controls and better real-time monitoring have enhanced security.
  • Artificial intelligence is increasingly used for automated code checks and anomaly detection.

Persistent Phishing Threat

  • Phishing remains a major threat, with criminals targeting individuals rather than code.
  • PeckShield advises using multi-signature cold storage and prioritizing private key security.