Web3 hacks cost $482M in Q1 as phishing drives majority of losses: Hacken
Hacken’s Q1 2026 report finds $482 million lost across 44 incidents, with phishing, legacy code bugs and key compromises driving losses as regulators tighten security demands.
Update (April 14, 2026, 11 am UTC): This article has been updated to adjust the total number of hacks and scams in the first quarter to $482 million and the total number of incidents to 44.
Web3 projects lost $482 million to hacks and scams in the first quarter of 2026, while multi-billion-dollar “mega hacks” gave way to a larger number of mid-sized incidents, according to blockchain security company Hacken.
According to Hacken’s Q1 2026 report, phishing and social engineering attacks dominated the period, accounting for $306 million in losses in a quarter that saw 44 incidents overall. A single $282 million hardware wallet scam in January was responsible for more than half of the quarter’s damage.