Crypto losses from hacks and scams fell to $26.5 million in February, marking the lowest monthly figure since March 2025, according to blockchain security firm PeckShield.
Out of 15 reported incidents, two accounted for the majority of the damage, including a $10 million price manipulation exploit targeting YieldBlox’s DAO-managed lending pool and an $8.9 million private key breach affecting the decentralised identity protocol IoTeX.
February’s total represented a 69.2% decline from January’s $86 million in losses, with PeckShield attributing part of the drop to the absence of mega-hacks such as the $1.5 billion breach at Bybit in February 2025.
A PeckShield spokesperson said heightened market volatility, including bitcoin’s dip below $70,000, shifted focus toward liquidity management and deleveraging rather than protocol exploits, adding that high-volatility periods often reduce exploit activity.
Analysts also pointed to improving security standards, with Kronos Research’s Dominick John saying tighter risk controls, enhanced counterparty scrutiny and real-time monitoring are raising the bar for funded protocols, and following the announcement the PeckShield share price was unchanged at $N/A.
John added that artificial intelligence is accelerating automated code reviews, anomaly detection and pre-deployment simulations, helping identify vulnerabilities earlier while acknowledging that phishing remains the most persistent threat vector.
Although phishing-related losses tied to wallet drainers have fallen sharply from $494 million to $83.85 million year-on-year, PeckShield warned that attackers are increasingly targeting human error and urged institutions and high-net-worth holders to adopt multi-signature cold storage and stricter private key safeguards.
At the time of reporting, Bitcoin price was $66,901.93.