In January, nearly $400 million worth of cryptocurrency was stolen, with seven-tenths of the attacks being phishing scams.

ChainCatcher News, blockchain security company CertiK data shows that in January 2026, the crypto industry suffered approximately 40 security incidents, with losses exceeding $400 million. The largest single loss was from a phishing attack on January 16: an investor was deceived by scammers impersonating Trezor official customer service, who induced the victim to reveal the recovery seed phrase of their hardware wallet, resulting in the theft of 1459 Bitcoins and 2.05 million Litecoins, totaling $284 million, accounting for 71% of the total losses that month.

The stolen assets were immediately converted into privacy coins Monero (XMR) to obscure transaction traces, causing XMR prices to surge and highlighting the challenges regulators face in combating privacy coin money laundering. Other major vulnerabilities include: Solana platform Step Finance being hacked for $30 million (January 31), Truebit losing $26.6 million due to an overflow vulnerability, Swapnet losing $13 million, and Saga and Makina Finance losing $6.2 million and $4.2 million respectively.