Hackers stole $35 million worth of cryptocurrency in February

Hackers stole $35 million worth of cryptocurrency in February

Author: Robert Strickland (crypto expert)


Hackers stole $35 million worth of cryptocurrency in February
Hackers stole $35 million in cryptocurrency in February from hacks of crypto projects
The amount of money stolen in the past month as a result of more than 200 hacks is almost 10 times less than a year earlier

Hackers stole a total of $35.5 million in cryptocurrency in February, according to calculations by cybersecurity company PeckShield. The funds were stolen in 209 hacks, 141 of which occurred on Feb. 11.

$9.2 million is the largest amount that attackers were able to steal in a single project hack - about 25 MyAlgo cryptocurrency wallets on the Algorand blockchain were affected. In second place was the Platypus crypto-protocol hack, which took away about $9 million on February 16. As a result of active actions of the Platypus development team and help from the crypto community, some funds have already been recovered, and the hackers were arrested by the French police.

Also in February, $5.1 million was stolen from cryptocurrency investment project Shata Capital, $3.65 million from DeFi-protocol dForce, and $3 million from cryptocurrency liquidity aggregator Orion Protocol. Separately, the BonqDAO protocol was hacked. Hackers tried to steal $120 million in cryptocurrencies, but they only managed to withdraw about $2 million.

According to analysts, the hackers funneled some of the stolen funds to the Tornado Cash crypto mixer. PeckShield identified 9 addresses, from which 9.3 thousand Ethereum ($15.4 million) and 6 thousand BNB ($1.8 million) were transferred to the anonymization service.

The total amount of stolen funds - $35.5 million - is almost 10 times less than what was stolen in February 2022 ($349.9 million). However, compared to January of this year, the losses have increased fourfold. During the first month of 2023, hackers stole $8.8 million worth of cryptocurrency.


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