Losses from cryptocurrency hacks and scams fell sharply in February 2026, totalling about $26.5 million, the lowest monthly figure since March 2025, according to PeckShield. The total, from 15 reported security incidents, represented a 98% year-over-year drop from February 2025, which was skewed by a roughly $1.5 billion breach of exchange Bybit, and a 69% decline from January 2026. The largest individual losses last month included an exploit on YieldBlox.finance of about $10 million and a breach of the IoTeX.io Bridge at roughly $8.8 million, followed by smaller incidents at CrossCurveFi and FOOMCASH.
Despite the drop in total losses, analysts said targeted attacks such as phishing and private key compromises continued to pose risks to decentralized finance protocols. Industry data from other security trackers also showed February 2026 was unusually quiet on high-value hacks, with broader estimates near $35–38 million in losses, underscoring that exploit activity may be down across multiple reporting firms.
The marked slowdown follows an unusually volatile 2025 when the industry suffered a string of high-value breaches. The $1.4 billion hack of exchange Bybit in February 2025—the largest single theft on record—and other major incidents such as the Cetus Protocol loss of about $223 million, and the Balancer exploit at around $128 million helped drive total annual hack losses to an estimated $2.2 billion across the 10 largest events. Security firms said the contrast highlights both the outsized impact of a few large breaches and signs that enhanced risk controls and industry vigilance may be reducing the frequency of high-value losses in early 2026.
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