Crypto hacks drop reach $26.5M for Feb as YieldBlox and IoTeX carry most loss
Blockchain security firm PeckShield yan talk say for February 2026 dem thief koro crypto na total $26.5 million for 15 incidents — na lowest for any month since March 2025. E mean say na 98.2% drop year‑on‑year compared to February 2025 (wey get $1.4bn Bybit drain) and 69.2% drop from January 2026 wey be $86.01m. Two breaches for Feb 21 carry most losses: $10m wey thief take by price manipulation from YieldBlox DAO lending pool and $8.8m wey private key compromise affect IoTeX TokenSafe and MinterPool contracts. Other big exploits include Cross Curve, FOOM CASH and Moonwell. PeckShield plus analysts say reduction na because better security practices — more audits, AI monitoring and constant surveillance — and market calm wey reduce chance for attackers. But bigger risks still dey: January 2026 still get over $370m stolen, law enforcement dey warn about rising violent “wrench attacks,” and billions still locked inside crypto protocols, so attackers still find sector attractive. For traders, lower reported losses fit reduce some security‑driven sell pressure, but ongoing smart‑contract exploit risk and physical‑coercion threats mean make dem still dey careful with custody and counterparty risk management.
Neutral
Di wey dem report say theft don drop to $26.5m na better sign for market confidence and e reduce short‑term sell pressure wey dey cause by security, we fit support native tokens or protocols wey connect to the exploited projects. But the drop na because fewer big incidents, no be because dem don remove the attack vectors structurally. Big losses before (January’s $370m+), ongoing protocol exposure, and non‑technical risks like “wrench attacks” still keep systemic vulnerability high. For trading: expect small, short‑term relief in volatility because of security sentiment, but no clear bullish catalyst for the affected tokens — traders make una dey careful about custody and counterparty risk and no assume say the downtrend in hacks na permanent. Overall price impact likely neutral no be clearly bullish or bearish for the projects mentioned.