January 2026 Crypto Hacks Surge to $86M Amid Market Weakness, Phishing Scams Top $300M
PeckShield's latest report reveals a troubling escalation in crypto security breaches, with 16 hacking incidents in January 2026 resulting in $86 million in losses. While this marks a slight 1.42% year-over-year decline from January 2025's $87.25 million, the figure represents a concerning month-on-month increase from December 2025's $75.95 million.
Phishing attacks have emerged as an even greater threat, surpassing $300 million in damages. The most significant hacks targeted Step Finance ($28.9M), Truebit Protocol ($26.4M), and SwapNet ($13.3M), demonstrating attackers' broadening focus across multiple ecosystem layers.
These security incidents compound existing market challenges, including falling prices, low trading volumes, and fragile investor sentiment. The convergence of technical vulnerabilities and macroeconomic pressures creates a perfect storm slowing crypto market recovery.
