In January, nearly $400 million in cryptocurrency was stolen, with a single phishing attack accounting for 70%

Blockchain security company CertiK data shows that in January 2026, the crypto industry suffered about 40 security incidents, resulting in losses exceeding $400 million. The largest single loss came from a phishing attack on January 16: an investor fell victim to a scammer posing as official Trezor customer support, leaking the hardware wallet's recovery seed phrase under the scammer's inducement, leading to the theft of 1,459 bitcoins and 2.05 million litecoins, totaling $284 million, accounting for 71% of the month's total losses.

The stolen assets were quickly converted into the privacy coin Monero (XMR) to obscure transaction trails, causing XMR prices to soar and highlighting the challenges regulators face in combating money laundering involving privacy coins. Other significant vulnerabilities include: $30 million stolen from the Solana platform Step Finance (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.