Crypto hacks drop to $26.5M in Feb as YieldBlox and IoTeX account for bulk losses
Blockchain security firm PeckShield reported February 2026 crypto thefts totaled $26.5 million across 15 incidents — the lowest monthly figure since March 2025. That represents a 98.2% year‑on‑year decline versus February 2025 (which included a $1.4bn Bybit drain) and a 69.2% month‑on‑month fall from January 2026’s $86.01m. Two breaches on Feb. 21 accounted for most losses: a $10m price‑manipulation theft from YieldBlox’s DAO lending pool and an $8.8m private‑key compromise affecting IoTeX’s TokenSafe and MinterPool contracts. Other notable exploits included Cross Curve, FOOM CASH and Moonwell. PeckShield and analysts attribute the reduction to better security practices — more audits, AI monitoring and continuous surveillance — and a quieter market that reduced attack opportunities. However, broader risks persist: January 2026 still saw over $370m stolen, law enforcement warns of rising violent “wrench attacks,” and billions remain locked in crypto protocols, keeping the sector attractive to attackers. For traders, the lower reported losses may ease some security‑driven sell pressure, but ongoing smart‑contract exploit risk and physical‑coercion threats argue for continued vigilance in custody and counterparty risk management.
Neutral
The drop in reported thefts to $26.5m is a positive signal for market confidence and reduces short‑term security‑driven sell pressure, which can be supportive for native tokens or protocols linked to the exploited projects. However, the decline is driven by fewer large incidents rather than a structural elimination of attack vectors. Significant prior losses (January’s $370m+), ongoing protocol exposure, and non‑technical risks such as “wrench attacks” keep systemic vulnerability high. For trading: expect muted, short‑term relief in volatility tied to security sentiment, but no clear bullish catalyst for the affected tokens — traders should remain cautious on custody and counterparty risk and avoid assuming the downtrend in hacks is permanent. Overall price impact is likely neutral rather than clearly bullish or bearish for the mentioned projects.