Crypto losses plunge 87% in February 2026 as scammers pivot to human-focused exploits

In February 2026, crypto-related losses dropped to about $49.3 million, an 87% decline from January's $385 million, yet attackers continued to refine their tactics. A report attributed much of the damage to a single Step Finance incident on Solana that drained around 261,854 SOL, while social engineering, phishing approvals, and address poisoning also cost users over $500,000. Additional technical exploits hit platforms such as YieldBlox, CrossCurve, and IoTeX, even as authorities in the United States and South Korea seized and froze millions linked to large-scale scam operations.