Crypto market loses $26.5M to hacks in February — lowest level in 11 months

Key points:

• 15 incidents were recorded in February, totaling $26.5 million in losses.
• Losses declined 69.2% compared to January ($86.01 million).
• The largest attacks targeted YieldBlox ($10 million) and IoTeX ($8.9 million).

According to blockchain security firm PeckShield, 15 major incidents occurred in February, with two attacks accounting for the majority of the monthly losses.

The largest exploit involved YieldBlox’s DAO-managed lending pool, where attackers manipulated pricing mechanisms and drained approximately $10 million on February 21. The second-largest incident affected the decentralized identity protocol IoTeX, which lost around $8.9 million following a private key compromise.

Source: X.com

Year-over-year comparison

Total losses in February were 98.2% lower than a year earlier. In February 2025, the industry suffered $1.5 billion in losses, including the $1.4 billion Bybit hack.

Analysts note that February 2026 saw no “mega-hacks” capable of significantly skewing monthly statistics. Market volatility also played a role: Bitcoin briefly fell below $70,000 earlier in the month, prompting market participants to focus on liquidity management and risk reduction.

Inside the scam empire: how $44 million a day is made

Forced labor, $16.1 billion in laundered funds, and international sanctions — an in-depth look at the structure, geography, and financial flows of the crypto scam industry.

Читать дальше

Strengthened security measures

Experts point to structural changes within the industry. Risk management standards have tightened, while audits and real-time monitoring have become more prominent. Capital is increasingly selective, favoring projects with established security frameworks.

However, phishing remains a persistent threat. Although losses from wallet drainers declined sharply — from $494 million to $83.85 million — attackers are increasingly targeting users directly rather than exploiting smart contract vulnerabilities.

According to PeckShield, the top five incidents in February accounted for 98% of total losses, or about $25.86 million. In addition to YieldBlox and IoTeX, other major cases included CrossCurve ($4.95 million), FOOM CASH ($2.26 million), and Moonwell ($1.8 million).