Crypto losses fell to $49M in February, but attackers are shifting toward phishing and user manipulation, says Nominis.

A report by blockchain security firm Nominis shows that in February, total losses from crypto attacks fell by 87%, going from $385 million in January to $49.3 million last month.

However, while the drop in total value stolen suggests improved protocol security, Nominis claims that a closer examination of the month’s events shows that attackers are moving their focus away from exploiting code and toward manipulating the people who use it.

The Anatomy of February’s Crypto Attacks

According to the Nominis report, an attack on Step Finance, a…