Over $360,000,000 Worth of Crypto Stolen in Month of February, According to PeckShield

Financial losses from crypto thefts significantly increased last month, according to blockchain security firm PeckShield.

In a new post on the social media platform X, PeckShield says hackers stole around $360.83 million worth of crypto assets in February, up from just $182.54 million in January.

Crypto gaming platform PlayDapp (PLA) accounts for the lion’s share of the stolen funds with $290 million in losses from two security breaches. PlayDapp tried to recover the funds by offering a $1 million white hat reward but the hackers chose to launder the money, according to blockchain analytics firm Elliptic. 

The automated crypto exchange FixedFloat comes in second with $25.85 million in losses.

Jeff “Jihoz” Zirlin, the founder of the blockchain-based game Axie Infinity (AXS) and gaming-centric Ethereum (ETH) sidechain Ronin (RON), takes the third spot. He says the breach – which drained $9.7 million worth of crypto assets from his wallets – only affected his personal accounts.

“Two of my addresses have been compromised. The attack is limited to my personal accounts, and has nothing to do with validation or operations of the Ronin chain.

Additionally, the leaked keys have nothing to do with Sky Mavis operations. I want to assure everyone that we have strict security measures in place for all chain-related activities.”

Meanwhile, layer-1 blockchain Shido (SHIDO) and stablecoin protocol Seneca (SEN) suffered losses of $7.3 million and $6.9 million, respectively.

PeckShield says only a small percentage of the stolen assets were recovered. 

“Hackers stole ~$360.83 million across over 21 attacks in February 2024, marking a month-on-month increase of 97.6% compared to January 2024. Additionally, ~1.8% of the stolen funds have been returned, totaling ~$6.7 million.”

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