Crypto hacks caused $86M losses in January 2026, while phishing losses crossed $300M, PeckShield data shows.
The crypto industry faced elevated security threats in January 2026 as hacking and phishing incidents intensified. Blockchain security firm PeckShield said total hack losses for the month were $86.01 million. Meanwhile, losses due to phishing remained severe, with losses of more than $300 million across the sector.
January Crypto Hacks Rise Month-on-Month Despite Yearly Dip
According to PeckShield, there were 16 hacking incidents in the crypto space in January 2026. Total losses amounted to $86.01 million, a 1.42% decrease year-on-year. However, losses were up 13.25% from December of 2025, when damages amounted to $75.95 million.
#PeckShieldAlert In Jan. 2026, the crypto space saw 16 hacks totaling $86.01M in losses, representing a slight 1.42% YoY decrease compared to Jan. 2025 ($87.25M) but a notable 13.25% MoM surge from Dec. 2025 ($75.95M).
Meanwhile, #phishing remains staggering with losses… pic.twitter.com/pxugbsPcZ7
— PeckShieldAlert (@PeckShieldAlert) February 1, 2026
The data reveals that the hacking activity was persistent despite moderate yearly improvement. Analysts claim that the month-on-month growth is indicative of renewed attacker momentum. As a result, security issues remain to exert pressure on market confidence.
Several high-profile exploits attributed to a high percentage of losses for the month of January. Step Finance suffered the largest incident losing about $28.9 million. Close behind this is Truebit with losses close to $26.4 million as per PeckShieldAlert data.
SwapNet’s losses during the period were around $13.3 million. Saga also reported damages of about $7 million. As well, Makinafi lost $4.13 million, though approximately 2.7 million dollars was recovered.
These incidents show how concentrated targeted attacks on decentralized platforms still are. Attackers frequently exploit the vulnerabilities of smart contracts or hacked credentials. As a result, smaller projects still come under greater exposure.
In spite of the losses, the number of hacks was relatively contained compared to previous peaks. However, the financial impact of each incident has increased. This trend is indicating attackers are looking for higher value targets.
Phishing Losses Remain a Major Industry Threat
While the losses from hacking were on the spotlight, phishing activity was still the dominant threat. PeckShield found more than $300 million in losses from phishing in January alone. This number was far greater than direct hack damages.
Phishing attacks are usually aimed not at protocols, but at individual users. Attackers are dependent on fake links, fake approvals, and impersonation. As a result, rates of recovery for phishing losses are extremely low.
Security analysts say phishing is successful in times of market volatility. Fear and urgency are often times that user caution is reduced. Therefore, attackers use emotional decision-making in price swings.
The magnitude of phishing losses exposes user education and wallet security weaknesses. Even experienced people remain victims. This challenge has become one of the most persistent risks to the industry.
PeckShield stated the losses from phishing show little improvement despite awareness campaigns. Advanced social engineering techniques are not static. As such, traditional warnings are often inadequate.
The contrast between hacking and phishing losses highlights changing patterns of attack. While protocol security has improved, user level vulnerabilities are exposed. This imbalance makes it difficult for industry as a whole to try to mitigate the risk.
Overall, January’s data shows mixed progress towards crypto security. Hack losses decreased slightly year on year but a growth in risk in months is an indicator. Meanwhile, phishing has been a critical challenge that has been sucking hundreds of millions.
The findings support the need for better security standards and user protections. Without sustained improvements, losses may keep accumulating. PeckShield’s report is a reminder that vigilance is necessary in crypto markets.