The crypto market has seen a notable plunge in hacking events throughout February 2026. In February 2026, cumulative losses totaled $26.5 million, marking a 69.2% month-over-month dip. The month saw 15 main hacks totaling $26.5 million, representing a 98.2% year-over-year decrease from February 2025 (including the $1.4B Bybit drain) and a notable 69.2% MoM decrease from January 2026 ($86.01M in losses).
The top five hacks accounted for roughly 98% of the month’s total, draining up to $25.86 million. YieldBlox DAO led the losses with $10 million, followed by IoTTeX with $8.8 million; CrossCurve with $4.95 million; FOOM CASH with $2.26 million; and Moonwell with $1.8 million.
PeckShield notes that although these incidents have significantly influenced the crypto sector, the total drained remains far lower than January 2026 and February 2025. The decline in monthly losses has generated optimism among market participants. Still, the data underscore ongoing vulnerabilities as hacking techniques continue to evolve across crypto projects.
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