Q1 2026 Web3 projects suffer over $460 million in losses due to hacking and scams, with phishing attacks dominating

Deep Tide TechFlow News, April 14, according to Cointelegraph, blockchain security firm Hacken released its Q1 2026 report showing that Web3 projects lost a total of $464.5 million due to hacking and scams in that quarter, with phishing and social engineering attacks accounting for $306 million, making them the main sources of loss. A hardware wallet scam in January caused a loss of $282 million, accounting for 81% of the total quarterly loss. Smart contract vulnerabilities led to losses of $86.2 million, while access control failures (including compromised keys and cloud services) resulted in $71.9 million in losses. The report pointed out that the largest security incidents often occur off-chain and at the infrastructure layer, which are difficult for traditional audits to cover. The European regulatory frameworks MiCA and DORA are increasing requirements for security monitoring and incident response, and global regulators are also raising standards for real-time monitoring and emergency response.