Hacken | Crypto

Hacken’s Q1 2026 report finds $482 million lost across 44 incidents, with phishing, legacy code bugs and key compromises driving losses as regulators tighten security demands. Update (April 14, 2026, 11 am UTC): This article has been updated to adjust the total number of hacks and scams in the first quarter to $482 million and the total number of incidents to 44. Web3 projects lost $482 million to hacks and scams in the first quarter of 2026, while multi-billion-dollar “mega hacks” gave way to a larger number of mid-sized incidents, according to blockchain security company Hacken. According to Hacken’s Q1 2026 report, phishing and social engineering attacks dominated the period, accounting for $306 million in losses in a quarter that saw 44 incidents overall. A single $282 million hardware wallet scam in January was responsible for more than half of the quarter’s damage. Read more

Hacken says Web3 losses climbed to nearly $4 billion in 2025, with North Korea behind over half the damage, and regulators are under pressure to turn security guidance into hard rules. The Hacken 2025 Yearly Security Report puts total Web3 losses at about $3.95 billion, up roughly $1.1 billion from 2024, with just over half of that attributed to North Korean threat actors. A report shared with Cointelegraph shows losses peaked at more than $2 billion in the first quarter of the year before falling to around $350 million by Q4, but Hacken warns that the pattern still points to systemic operational risk rather than isolated coding bugs. The report frames 2025 as a year where the numbers worsened, but the underlying story became clear. Smart contract bugs matter, but the biggest, least recoverable losses are still coming from weak keys, compromised signers, and sloppy off‑boarding. Read more

The exchange will publish monthly, independently verified reserve reports, giving users third-party confirmation that assets are fully backed. MEXC has expanded its partnership with blockchain security platform Hacken to introduce monthly, independently verified Proof-of-Reserves (PoR) audits, marking a shift toward a more formalized transparency framework for the exchange. The monthly audits will add independent verification to MEXC’s existing PoR system, creating an external record of reserves that cannot be altered internally. Hacken will publish each report independently, without MEXC’s review or approval, starting in late November. The checks will compare MEXC’s reserves with user balances across major assets. MEXC said its current reserve ratios remain above 100% across major assets, with users able to verify their balances through the exchange’s Merkle tree system on a dedicated proof-of-reserves page. Read more