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Hacking group ShinyHunters claims to have dumped 2.5GB of customer data stolen from Figure Technology after the blockchain lending firm refused to pay a ransom — exposing names, addresses, and dates of birth gathered from a platform that markets itself on the security advantages of blockchain.
The breach, disclosed on February 14, 2026, shows a growing reality in digital finance: even advanced blockchain systems remain vulnerable to human error.
The attack, which reportedly resulted in the exposure of sensitive user information, comes amid a surge in crypto-related cybercrime.
Figure Technology, a U.S.-based blockchain lending platform, said the incident began when an employee was manipulated by attackers using social engineering tactics.
The attackers gained access to internal company files, leading to the compromise of customer data.
“A social engineering scam enabled unauthorized access to a limited set of company files.”
The company confirmed in an official update, adding that cybersecurity specialists were brought in to investigate and contain the breach.
According to multiple reports, the hacker group known as ShinyHunters claimed responsibility and allegedly released approximately 2.5GB of stolen data after ransom demands were not met.
The leaked information reportedly included personal customer details such as names, addresses, and dates of birth, data that could potentially be used in identity theft or targeted scams.
While the company emphasized that only a portion of files were accessed, the incident demonstrates how attackers increasingly bypass technical defenses by exploiting human behavior.
The fallout was immediate. Market analysts reported heightened volatility surrounding Figure following disclosure of the breach.
Data shows sharp share-price declines and increased trading volatility as markets priced in reputational and legal risks.
The implications extend beyond a single company. Blockchain platforms often promote cryptographic security as a core advantage, yet incidents like this highlight that centralized operational layers.
Cybersecurity experts warn that breaches involving personal data can trigger secondary attacks, including phishing campaigns targeting affected users.
The event mirrors previous high-profile breaches across the sector, where attackers used insider manipulation or impersonation tactics to gain access without directly hacking blockchain infrastructure.
The Figure incident arrives during a sharp escalation in crypto cybercrime globally. Industry data shows hundreds of millions of dollars lost to scams and exploits in early 2026 alone, with phishing and social engineering among the leading causes.
Security research indicates that phishing-related attacks now account for a significant portion of crypto breaches, reinforcing the idea that technological security alone cannot eliminate risk.
Unlike traditional hacks that target software vulnerabilities, social engineering attacks manipulate employees or users into voluntarily granting access.
Techniques can include impersonating internal IT staff, fake security alerts, or persistent authentication requests designed to pressure victims into approving access.
The method has proven effective even against major tech companies and exchanges, highlighting a systemic industry challenge rather than an isolated failure.
The breach reinforces an uncomfortable truth: blockchain security does not automatically translate into platform security.
Even when smart contracts and distributed ledgers remain uncompromised, centralized operational processes can still expose user data and damage trust.
Figure said it is working with investigators, notifying affected parties, and strengthening internal safeguards.
The company also advised customers to monitor accounts closely for suspicious activity.
The incident may also accelerate regulatory scrutiny as policymakers increasingly examine how crypto firms manage customer information and cybersecurity preparedness.
As cyberattacks grow more sophisticated, the Figure breach serves as a reminder that the crypto industry’s weakest link may not lie in blockchain code but in the human systems surrounding it.
