- Crypto hacking activities decreased in February.
- Cybercriminals stole fewer digital assets than they did in January.
- However, the total loss surpassed the $100 million mark.
Hackers targeting cryptocurrency platforms managed to steal tens of millions in digital assets across over 20 attacks in February, blockchain security firm PeckShield said on Friday.
Cybersecurity is a big challenge plaguing the crypto industry, with data insights estimating that widespread hacking led to the theft of digital assets worth about $1.7 billion in 2023 alone.
Although hackers started the year on a high note by stealing $82 million from the Orbit Bridge on January 1, monthly hacking incidents on crypto platforms decreased by nearly half in February, with attackers returning some of the stolen funds.
Crypto Hacks in February 2024
According to an update shared by PeckShield on March 1, hackers stole $104.73 million from the crypto industry last month, marking a month-over-month (MoM) decrease of 42% compared to January 2024.
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In January 2024, hackers stole cryptocurrencies worth about $182.54 million across over 30 attacks, accounting for a 771.39% increase compared to the $20.95 million stolen in January 2022.
Per PeckShield’s post, the top three victims of February cybersecurity incidents include PlayDapp, FixedFloat, and Axie Infinity co-founder Jeff “Jihoz” Zirlin. The victims were reportedly exploited for $36 million on February 9, $25.8 million on February 18, and $9.7 million on February 23, respectively.
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The fourth and the fifth biggest hacks of the month impacted ShidoGlobal and Seneca, respectively. Shido was hacked for nearly $7.3M on February 29, an attack that saw the project’s native token plunge over 80% in five minutes.
Seneca was exploited for $6.9 million on February 28, but the hacker returned $5.3 million to the protocol the following day after keeping a 20% bounty. Cumulatively, PeckShield noted that hackers returned 6.4% of the total stolen funds in February.
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