In Q1 2026, Web3 projects suffered losses exceeding $460 million due to hackers and scams, with phishing attacks being predominant

According to market news, a report released by the blockchain security company Hacken shows that Web3 projects lost a total of $464.5 million this quarter due to hacker attacks and scams, with phishing and social engineering attacks accounting for $306 million, becoming the main source of losses.

A hardware wallet scam that occurred in January caused a loss of $282 million, accounting for 81% of the total quarterly losses. Smart contract vulnerabilities led to losses of $86.2 million, while access control failures (including breaches of keys and cloud services) caused losses of $71.9 million. The report points out that the largest security incidents often occur in off-chain operations and infrastructure layers, which traditional audits find difficult to cover. The European regulatory frameworks MiCA and DORA are increasing requirements for security monitoring and incident response, and global regulatory agencies are also raising standards for real-time monitoring and emergency response.