NewsBTC
Feb 2, 2026
4 0

BEARISH 📉 : January saw $370 million in crypto losses from scams

In January, approximately $370 million in crypto was stolen, marking a significant increase from previous months.

  • A major social-engineering scam resulted in the loss of about $284 million from a single victim.
  • Phishing scams accounted for approximately $311 million of the total losses, highlighting the vulnerability of users to deceptive tactics rather than technical breaches.

Monthly Variations

  • The January total is nearly four times the amount stolen in January 2025 and more than triple December's figure.
  • This month recorded the highest losses since February 2025, when a large-scale theft occurred.

Crypto Theft Data

Technical Exploits

  • Several protocol attacks were reported by PeckShield:
  • Step Finance lost nearly $29 million due to compromised treasury wallets.
  • Truebit faced a $26.4 million loss from a smart contract flaw.
  • SwapNet and Saga suffered losses of $13.3 million and $7 million, respectively.

Crypto Exploits Overview

Implications

  • January saw 40 exploit and scam incidents, with a few cases accounting for most losses.
  • The concentration of value in large scams highlights the need for better security measures.

Recommendations

  • Enhance human and technical safeguards, including stronger identity checks and wallet controls.
  • Conduct independent code audits and implement quick response plans for vulnerabilities.
  • Focus on user education to prevent scams before they escalate to technical breaches.

Attackers are increasingly combining social tactics with technical skills, emphasizing the need for comprehensive security strategies.