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.
The February figure marks a steep decline from the $385 million stolen in January. While one month of data does not necessarily indicate a sustained trend, the drop suggests that large-scale protocol exploits were less prevalent during the period.
Social engineering attacks caused more cumulative damage than traditional smart contract exploits, Nominis said, with phishing campaigns increasing sharply during the month. These attacks typically trick users into interacting with malicious links or signing fraudulent transactions.
Private individuals were the most common victims, rather than centralized exchanges or decentralized finance protocols.
The most prevalent attack method was authorization abuse, in which victims unknowingly granted wallet permissions that allowed attackers to move funds from their accounts.
Major February exploits across the crypto industry. Source: Nominis
The figures broadly align with separate reporting from blockchain security company PeckShield, which estimated that February crypto exploits totaled $26.5 million, the lowest monthly losses since March 2025. PeckShield attributed the decline partly to stronger risk controls and improved security practices across the industry.
Crypto security improving, but major exploits persist
Hacks and scams have been a persistent feature of the cryptocurrency industry since its early days, though exchanges and security firms say defenses are gradually improving.
Crypto exchange Bybit recently reported that its fraud-prevention system blocked more than $300 million in unauthorized withdrawals during the final quarter of last year. The company said it flagged roughly 350 high-risk fraud addresses and prevented around 8,000 users from falling victim to potential scams.
Despite improvements in detection systems, large-scale attacks remain a major risk for the industry. According to Chainalysis, crypto hacks resulted in $3.4 billion in cumulative losses last year, underscoring the scale of the threat.
Crypto losses from hacks and exploits peaked in 2022 but remain elevated. Source: Chainalysis
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Societe Generale-FORGE launches EURCV stablecoin on Stellar
The French banking group’s digital asset arm expanded its MiCA-compliant euro-backed stablecoin as part of a multichain strategy for regulated digital asset infrastructure.
Societe Generale-FORGE, the crypto arm of French banking company Societe Generale, has deployed its euro-denominated stablecoin on the Stellar blockchain, completing a multichain expansion first announced in 2025.
The stablecoin, known as EUR CoinVertible (EURCV), is designed to comply with the European Union’s Markets in Crypto-Assets (MiCA) framework and represents a tokenized euro issued by the company for use in digital asset markets.
According to the company, the Stellar deployment is intended to broaden the stablecoin’s use across blockchain-based financial applications and tokenized asset services.
SG-FORGE said Stellar offers high transaction throughput, low network fees and built-in support for tokenized assets. The network also includes a decentralized exchange that allows users to trade digital assets directly onchain.
Societe Generale-FORGE first launched the EUR CoinVertible (EURCV) stablecoin on Ethereum in April 2023. The stablecoin is fully backed by reserves consisting of bank deposits and high-quality liquid assets on a one-to-one basis, and has a current market cap of around $452 million, according to DefiLlama data.
The development comes weeks after SG-FORGE deployed EUR CoinVertible on the XRP Ledger, then marking the token’s third blockchain network after Ethereum
In January, the stablecoin was used by global banking network SWIFT in a pilot that demonstrated the exchange and settlement of tokenized bonds using both fiat and digital currencies.
Adoption of digital dollars accelerated in the US after the GENIUS Act passed in July 2025, providing regulatory clarity for stablecoin issuers. Total market capitalization has climbed from around $260 billion on July 20 to more than $314 billion today, per DefiLlama data.
Meanwhile, Europe has taken a more restrictive regulatory approach. The European Union’s MiCA framework introduced new rules for stablecoin issuers in June 2024, requiring companies operating in the European Economic Area to obtain an e-money license in at least one EU member state.
The regulation prompted several exchanges, including Coinbase, OKX, Bitstamp, Uphold and Binance, to remove or restrict support for stablecoins that had not secured authorization under the framework. Tether also decided it would discontinue its euro-pegged stablecoin EURT.
In November, European Central Bank officials warned that the growth of US dollar–backed stablecoins could weaken Europe’s monetary sovereignty by increasing reliance on dollar-denominated digital assets.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
One platform, two strategies: Merging everyday crypto investing and a tax-advantaged strategy
While many platforms rely on automated bots, this one gives clients direct access to a real human support team.
23153
Spotlight
Sponsored Content
Disclaimer. This content is part of a paid partnership. The text below is a sponsored article that is not part of Cointelegraph.com editorial content. The material is written by our advertorial team and has undergone editorial review to ensure clarity and relevance, it may not reflect the views and opinions of Cointelegraph.com. Readers are encouraged to conduct their own research before taking any actions related to the company. Disclosure.
By combining “premium custody accounts” for everyday investing, tax-advantaged crypto IRA for long-term retirement investing and US-based client service support, iTrustCapital positions itself as the go-to platform for long-term crypto wealth preservation.
The “Wild West” days of crypto are mostly over, and there are now plenty of platforms that make it easy for people to get started, but the industry wasn’t always this accessible. There were times defined by adrenaline.
Investors chased volatility and scribbled complex passwords on scraps of paper, accepting the constant risk that a platform might collapse due to a hack or fraud, or that a single mistyped character could send their money to the wrong person.
But those Wild West days are fading fast. As the market matures toward 2026, the collective mindset has shifted from hunting for overnight riches to securing long-term wealth preservation. While the market is flooded with exchanges designed for simple buying and selling, there is a growing demand for platforms that offer various financial structures.
One such example is fintech software platform iTrustCapital, which operates more like an investment hub, similar to traditional brokerages like Fidelity. It provides a single destination for multiple account types, allowing users to manage tax-advantaged retirement savings through crypto IRAs alongside everyday crypto holdings in “premium custody accounts.”
Its roadmap also includes supporting additional account structures, aiming to serve as a unified home for diverse crypto investing strategies.
Everyday investing, simplified
For investors looking for a standard crypto experience, iTrustCapital offers the “premium custody account.” This is designed for everyday investing, featuring a clean dashboard with accessible UI/UX and a mobile app that allows users to buy and sell crypto 24/7.
The platform supports dozens of digital assets, giving users the ability to build diverse portfolios and utilize crypto staking. However, unlike typical exchanges where assets can be moved freely on and off the platform, the PCA operates on a “closed-loop” system. It helps mitigate the risk of funds being drained from a compromised account by design, client assets remain in secure custody within iTrustCapital's closed-loop ecosystem.
Government wants its cut, crypto IRAs offer a shield
One of the rudest awakenings for new crypto investors is the realization that, in a standard taxable account, simple crypto transactions can trigger taxable events in the United States. Selling Bitcoin
for a profit? That is capital gains. Operating on a standard platform can create a paperwork nightmare that complicates filing season and eats into long-term compounding.
iTrustCapital tackles this by giving investors access to buy and sell cryptocurrency within a tax-advantaged retirement account, their crypto IRA. The platform supports over 90 digital assets, in addition to gold and silver, with 24/7 access once accounts are funded. With a Traditional IRA, contributions may be tax-deductible, depending on eligibility and IRS rules. The investor receives a break now, although the government collects its due when distributions begin in retirement.
For those who think taxes will be higher in the future, the Roth IRA allows for post-tax contributions, but the growth and qualified withdrawals are tax-free. Beyond buying and selling, investors can also put their assets to work through crypto staking, earning rewards directly inside their tax-advantaged crypto IRA.
Actually picking up the phone
In the tech world, “customer support” often means battling a chatbot that loops through unhelpful articles and automated replies. While this is annoying during minor inconveniences like a Wi-Fi outage, this lack of connection becomes genuinely stressful when retirement savings are involved and reaching a real person proves impossible.
iTrustCapital takes a more old-school approach. The company maintains a US-based customer support team with standard business hours and a published phone number that can actually be called. By offering live, domestic support with clearly listed phone hours, iTrustCapital avoids the “ghosted” feeling that plagues many digital-first crypto platforms.
Custody and asset segregation
Under the hood, the platform adheres to strict custody standards. It emphasizes fully reserved custody practices: client assets are held 1:1 off-balance sheet and are not commingled with company operating funds.
iTrustCapital states it doesn’t borrow, lend, or leverage client assets, and says it doesn’t allow custody providers to do so either. Instead, the platform leverages a regulated bank, trust partners and institutional crypto storage providers to secure assets.
These holdings are stored within a fully secure, audited and regularly stress-tested institutional environment using cold storage, multi-party computation (MPC) and HSM technology. It is a setup designed to help keep client assets segregated from the company’s operations.
With over $16 billion in transaction volume and a stack of 12,000 positive reviews across Google and Trustpilot, the platform is expanding its footprint. The roadmap includes plans for Treasury Accounts for businesses and support for stablecoins.
“Crypto shouldn’t feel complicated or unsafe,” said Kevin Maloney, CEO of iTrustCapital. “From the beginning, our focus has been on building a platform that’s simple to use, secure by design and backed by real people. Investors want to know their assets are secured and that they can speak with someone if questions come up or something goes wrong. That level of trust and accountability is what we bring to crypto investing.”
As crypto continues to mature, the platforms that endure will likely be those that are simple, secure and built on trust. By combining everyday crypto investing, tax-advantaged retirement accounts and dedicated human support all in one place, iTrustCapital aims to provide a unified home for crypto investors.
Important Information: iTrustCapital is a fintech software platform for alternative assets. iTrustCapital is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager or advisor in the United States or elsewhere.
Disclaimer.This content is part of a paid partnership. The text below is a sponsored article that is not part of Cointelegraph.com editorial content. The material is written by our advertorial team and has undergone editorial review to ensure clarity and relevance, it may not reflect the views and opinions of Cointelegraph.com. Readers are encouraged to conduct their own research before taking any actions related to the company. Disclosure.
UK government‘s long-term fraud strategy labels crypto as ‘growing risk‘
A policy paper from the UK government's Home Office said that “vulnerabilities remain” in authorities' attempts to fight fraud in emerging payments, including digital assets.
The UK government has issued a policy paper on how to combat fraud against individuals and businesses from 2026 to 2029, specifically noting that its strategy would consider digital assets.
In a paper published on Monday, the UK’s Home Office identified cryptocurrencies as one medium of exchange “where victims are deceived into willingly transferring money” through scams on social media platforms and messaging. According to authorities, “vulnerabilities remain” in their attempts to fight fraud in emerging payments like crypto, and the technology posed “growing risks” for consumers.
“The [National Crime Agency] launched a nationwide campaign in 2025 to help consumers spot fraud, and the Government is also supporting law enforcement, including the Serious Fraud Office (SFO), to enhance cryptoasset investigation capabilities,” said the UK government.
Measures already taken by the government include the Financial Conduct Authority’s (FCA) crackdown on crypto companies marketing tokens to UK consumers that began in 2023, and HM Treasury introducing a comprehensive regulatory framework for digital assets set to be implemented in October 2027. The paper said that requiring crypto companies “to obtain FCA authorization and comply with its rules” would help fight related fraud.
“This is not just about reducing crime; it is about restoring confidence,” said Home Secretary Shabana Mahmood and Minister of State at the Home Office, Lord Hanson of Flint. “Every pound stolen through fraud is a pound not reinvested in our economy. Every victim is a reminder of why we must act. By delivering this Strategy, we will make the UK a safer place to live, work, and do business, and send a clear message to criminals: there is nowhere you can hide.”
Scrutiny over crypto contributions to UK politicians
While the policy paper focused on fraud, it did not explicitly mention an ongoing debate in the UK over whether political parties and candidates should be allowed to accept contributions in digital assets, given potential conflicts of interest. The UK government has reportedly been considering a ban on such contributions as part of an Elections Bill.
At the Bitcoin 2025 conference last year, UK Reform leader Nigel Farage said that the party would begin accepting donations in crypto. Early crypto investor Christopher Harborne sent a combined $16 million to Reform through donations in 2025.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
