Crypto hacks fall to $49M in February as attackers shift to phishing scams

Crypto theft slowed sharply last month after a spike in January, but security companies warn that scammers are increasingly exploiting wallet permissions and social engineering tactics.

Crypto-related hacks declined sharply in February, but attackers are increasingly targeting users through phishing campaigns and malicious wallet approvals — a shift suggesting they are focusing more on exploiting human behavior than on vulnerabilities in smart contracts.

According to Nominis’ monthly report, roughly $49 million was lost to crypto-related exploits in February.

A single breach involving Step Finance, a portfolio dashboard and analytics platform built on the Solana blockchain, accounted for the bulk of the losses, with attackers draining approximately $30 million.

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