The value of cryptocurrencies stolen through exploits and scams jumped to $370.3 million in January 2026, marking the highest monthly total in 11 months and a sharp increase from the same period a year earlier, according to data from blockchain security firm CertiK.
Key points to remember:
- Crypto losses reached $370.3 million in January, the highest level in 11 months.
- Phishing and social engineering accounted for most of the losses, led by a single $284 million scam.
- The exploits continued, with major hacks at Step Finance and Truebit.
CertiK said that although at least 40 incidents of exploitation and scams were recorded during the month, the bulk of the losses came from a single case.
One victim reportedly lost around $284 million in a large-scale social engineering attack, highlighting how individual incidents can significantly skew monthly figures.
Phishing Generates $311 Million in Crypto Losses as Thefts Rise in January
Phishing scams were the dominant vector overall, accounting for $311.3 million of the total stolen.
January’s losses are nearly four times more than in January 2025, when attackers took $98 million, and more than triple December’s total of $117.8 million.
This figure is the highest since February 2025, when total monthly losses reached around $1.5 billion following the $1.4 billion hack of crypto exchange Bybit, CertiK said.
Although phishing and scams cause most of the damage, chain exploits remain a persistent threat.
Blockchain security firm PeckShield reported that January’s largest hack targeted Step Finance, a decentralized financial portfolio tracker on Solana.
Combining all incidents from January, we confirmed that approximately $370.3 million was lost due to the exploits.
About $311.3 million of the total is attributed to phishing, with one victim losing approximately $284 million to a social engineering scam.
More details below
pic.twitter.com/uXhi0P6dl5
– CertiK Alert (@CertiKAlert) January 31, 2026
The attackers drained approximately $28.9 million after compromising multiple cash wallets, siphoning off over 261,000 SOL.
The second largest exploit involved the Truebit protocol, which lost approximately $26.4 million on January 8 after a smart contract flaw allowed an attacker to create tokens at minimal cost, triggering a sharp drop in the price of the TRU token.
PeckShield also reported a $13.3 million hack on SwapNet and a $7 million exploit affecting the Saga network.
PeckShield counted 16 hacks in total in January, resulting in losses of $86 million. While this figure is slightly lower than a year earlier, it marks a notable increase from December, highlighting the continued volatility of crypto security risks.
Crypto Crime Hits Record $154 Billion in 2025, According to Chainalysis
Crypto-related crime remains a growing concern. According to Chainalysis, illicit cryptocurrency addresses received a record $154 billion in 2025, a sharp increase from the previous year.
In a separate case, U.S. prosecutors charged Ronald Spektor, a 23-year-old Brooklyn resident, with stealing approximately $16 million in cryptocurrency from about 100 Coinbase users through an alleged phishing and social engineering scheme.
According to the Brooklyn District Attorney’s Office, Spektor posed as a Coinbase employee and contacted victims claiming their funds were in immediate danger, pressuring them to transfer crypto to wallets he controlled.
Authorities said the scheme relied on panic tactics rather than technical hacks. Operating under the online pseudonym “lolimfeelingevil,” Spektor allegedly warned victims of an impending theft in order to overcome their skepticism and force quick decisions.
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