The crypto sector is always at risk of malicious activities, as hackers are constantly pursuing their targets without giving up. It has been just two months into 2026 and fraudulent schemes involving cryptocurrencies are already surfacing. CertiK, a blockchain auditor, reported that crypto hacks and scams resulted in losses exceeding $21 million in February. Read more about the US discontinuing an emergency survey of bitcoin mining due to legal issues. Despite the decrease in losses compared to January, the cryptocurrency industry has still suffered a significant amount of losses totaling $253.7 million so far this year due to hacks, scams, and exploits. Malicious players have caused the sector to lose $25.3 million. Certik recently reported that the cryptocurrency industry has experienced significant losses due to a number of intricate scams in 2023. Most of the losses in February, totaling approximately $22022 million, were due to the exploitation of weaknesses in cryptocurrency projects. Certik’s X social media page reported multiple instances of exploits in the month, including an incident on February 224.2 where the omnichain CDP protocol Seneca USD was hacked, resulting in the theft of assets valued at over $22023 million. Overall, Seneca USD experienced a loss of $6.46 million in February. The biggest incident occurred on the PlayDapp platform, a South Korean blockchain game development site.