Crypto Market Losses from Hacks Hit 11-Month Low

In February 2026, the cryptocurrency sector experienced significant declines in hacking-related losses, totaling $26.5 million, the lowest monthly total since March 2025, according to data from PeckShield.

In February, there were 15 notable hacking incidents, marking a drastic 98.2% drop compared to $1.5 billion in losses from the same month in 2025, which included the infamous $1.4 billion Bybit breach. Furthermore, February's losses represent a 69.2% decrease from January 2026, when losses reached $86.01 million.

— PeckShieldAlert (@PeckShieldAlert) March 1, 2026

Key incidents included two major attacks on February 21: YieldBlox, which lost $10 million from a lending pool, and IoTeX, where hackers compromised private keys, resulting in an $8.9 million theft. Other notable breaches encompassed CrossCurve at $4.9 million, Foom Cash at $2.2 million, and Moonwell at $1.8 million.

PeckShield credits this sharp decline in losses to recent market volatility, particularly Bitcoin's drop below $70,000, which prompted investors to prioritize liquidity management over identifying protocol weaknesses.

Contrasting Damage Estimates

Meanwhile, data from CertiK suggests that the impact from hacks and scams in February was slightly higher at $37.7 million. Their analysis indicated that around $35.7 million of this total loss stemmed from various exploits, with $8.5 million attributed specifically to phishing attacks.

Notably, wallet compromises led to the biggest losses at $16.6 million, followed by price manipulation at $11.4 million, and phishing contributing $8.5 million. Hackers have stolen cryptocurrencies valued at $2.9 billion throughout 2025, according to TRM Labs.

— CertiK Alert (@CertiKAlert) February 28, 2026