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Crypto hack losses hit $112.5m in first two months of 2026, PeckShield data

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Crypto-related hacks drained more than $112m in the first two months of 2026, with January accounting for the bulk of losses and February showing a sharp pullback, new data from PeckShield shows.

Posted: March 2, 2026 Avatar

By: Adewale Olarinde Journalist Edited By: Jibin Mathew George Crypto hack losses hit $112.5m in first two months of 2026, PeckShield data

Adewale Olarinde Journalist Edited By: Jibin Mathew George Posted: March 2, 2026 Share this article

Crypto-related hacks resulted in $112.53 million in losses across January and February 2026, according to data shared by PeckShield.

While February recorded a sharp month-on-month decline in losses, the combined figures show that security incidents continue to pose a material risk early in the year.

January losses dominated by a handful of large exploits

January 2026 accounted for the bulk of losses, with 16 hacks totaling $86.01 million. It represents a 1.42% year-on-year decline from January 2025’s $87.25 million.

Losses were also 13.25% higher month-on-month compared with December 2025, when $75.95 million was stolen.

The top five incidents in January were highly concentrated. Step Finance led with $28.9 million, followed by Truebit at $26.4 million and SwapNet at $13.3 million.

Saga reported losses of $7 million, while Makina Finance lost $4.13 million, of which $2.7 million was later recovered.

Beyond protocol exploits, PeckShield noted that phishing-related losses exceeded $300 million during the month. This underscores the scale of social-engineering risks alongside smart contract vulnerabilities.

February sees sharp pullback but continued concentration

In February 2026, the crypto sector recorded 15 major hacks totaling $26.52 million. This marks a 69.2% decline from January and a 98.2% year-on-year decrease compared with February 2025.

The annual comparison is heavily influenced by the $1.4 billion Bybit-related exploit recorded last year, which inflated the 2025 baseline.

Despite the lower aggregate figure, losses in February were again dominated by a small number of incidents.

Source: X

The top five hacks accounted for approximately 98% of total stolen funds, or about $25.86 million. YieldBlox DAO was the largest single incident at $10 million, followed by the IoTeX bridge at $8.8 million.

CrossCurve lost $4.95 million, FOOM Cash reported $2.26 million, and Moonwell accounted for $1.8 million.

Early 2026 data points to volatility rather than resolution

Taken together, the January and February figures highlight a pattern of loss concentration and volatility, rather than a sustained reduction in risk.

While February’s decline suggests fewer high-severity exploits, the persistence of mid-sized protocol and bridge attacks indicates that systemic vulnerabilities remain unresolved, particularly in cross-chain infrastructure and DeFi applications.

Final Summary

Crypto hacks resulted in $112.53 million in losses across the first two months of 2026, with January accounting for more than three-quarters of the total.
February losses fell sharply month-on-month, but a small number of incidents still dominated overall damage, highlighting ongoing concentration risk.

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Adewale Olarinde

Adewale Olarinde is a crypto journalist and data-driven storyteller with a Master’s degree in International Relations. He covers digital assets, markets, and policy with a focus on clarity and context. Outside of work, he’s a lifelong Manchester United supporter and a big music lover. More Articles