Report: Crypto Losses Drop 87% in February, But Hackers Are Now Targeting People, Not Code

Cryptocurrency losses dropped 87% to $49 million in February according to Nominis, marking a significant decline in hack-related damages. However, attackers are shifting their strategies away from exploiting code vulnerabilities toward phishing and social engineering tactics that target users directly.

• →Crypto losses fell dramatically by 87% to just $49 million in February.
• →Hackers are pivoting from technical code exploits to social engineering and phishing attacks.
• →The shift indicates attackers are now focusing on manipulating users rather than finding protocol vulnerabilities.
• →Despite lower financial losses, the threat landscape is evolving toward more personalized attack vectors.
• →User education and security awareness may become more critical as technical defenses improve.