Hackers drained over $100m across 20 attacks in February, data shows

Cybercriminals stole more than $104 million worth of crypto in February, marking a 42% decrease compared to January.

According to data compiled by PeckShield, hackers successfully executed 20 attacks against decentralized protocols in February, with the most significant breach occurring at PlayDapp, resulting in a loss of $36 million worth of crypto for the project.

Following closely behind, the crypto trading platform FixedFloat suffered losses totaling $25.8 million, while Ronin and Axie Infinity co-founder Jeff “Jihoz” Zirlin encountered the third-largest incident of the month, losing $9.7 million. PeckShield further noted that approximately 6.5% of the stolen funds, approximately $6.7 million, have been returned.

Data indicates that hackers typically transferred the stolen crypto to the sanctioned crypto mixer Tornado Cash, followed by exchange protocol eXch and the Bitcoin blockchain. While the exact extent of criminal activity in February remains elusive, as victims usually do not report such crimes, the latest figures represent an increase compared to February 2023, when the market incurred losses of $30.6 million due to hacker attacks, according to DefiLlama data.