Crypto hack losses fell to $26.5 million in February amid sharp monthly and annual declines: PeckShield

Blockchain security firm PeckShield has reported a significant downturn in cryptocurrency losses due to hacks and exploits during February 2024. Total losses for the month plummeted to approximately $26.5 million, marking a sharp contrast to previous periods. This figure represents a nearly 85% decrease from the $182.5 million lost in January 2024. On a year-over-year basis, the decline is even more staggering, with losses falling by approximately 98% compared to February 2023. The month’s most significant incidents included the $16.5 million exploit of the gaming platform PlayDapp and the $4.8 million theft from the crypto exchange FixedFloat. Despite these breaches, PeckShield noted a positive trend in fund recovery, with roughly $2.4 million of the stolen assets being returned or recovered throughout the month. This monthly decline offers a temporary reprieve for the DeFi sector, which has been under constant pressure from sophisticated cyber threats.

Source: Crypto hack losses fell to $26.5 million in February amid sharp monthly and annual declines: PeckShield