Web3 Projects Lose Over $464 Million to Hacks in Q1 2026

Crypto projects lost $464.5 million to hacks and scams in Q1 2026, reports blockchain security firm Hacken.

A single $282 million hardware wallet phishing scam in January accounted for 81% of the quarter's total losses.

Phishing and social engineering attacks combined caused $306 million in damage across the period, while SmartContract exploits accounted for $86.2 million, and access control failures drove an additional $71.9 million in losses.

Hacken CEO Yev Broshevan said that 'the most expensive failures happen outside the code layer entirely,' pointing to operational and infrastructure vulnerabilities not covered by traditional smart contract audits.