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In Q1 2026, Web3 projects suffered losses of over $460 million from hacks and scams, with phishing attacks leading the way.

Hacken’s report shows that in the first quarter of 2026, Web3 projects lost $464.5 million due to hacker attacks and scams, with phishing and social engineering attacks accounting for $306 million in losses. In addition, hardware wallet scams accounted for the bulk of the losses. Moreover, losses were also significant due to smart contract vulnerabilities and access control failures. In terms of regulation, the European legal framework has increased security monitoring requirements.

RAVE’s hype surge triggers a flood of copycat coin mania, as FF and INX expose the “pump-and-dump” scheme

Recently, altcoins represented by RAVE have sparked a fierce investment craze, but some old star projects like FF and INX have used this wave of hype to carry out “pump-and-dump” operations—rapidly driving up coin prices to lure retail investors to buy, and then dumping them heavily, causing the price to plunge rapidly. Such behavior not only exposes the project team’s funding difficulties, but also damages investors’ trust. Investors need to stay alert to signals like abnormal short-term surges in order to avoid the risk of being manipulated by the market.

FBI teams up with Indonesia to dismantle W3LL phishing network, with more than $20 million involved

The U.S. FBI and Indonesian police successfully cooperated to dismantle a W3LL phishing network, seizing related equipment and detaining suspects. The W3LL phishing toolkit offers low-priced fake login pages that use man-in-the-middle attacks to easily bypass multi-factor authentication, forming an organized cybercrime ecosystem. This operation marks cooperation between the U.S. and Indonesia in law enforcement against cybercrime; however, the security threats to cryptocurrency users remain severe.

Squads Emergency Alert: Address poisoning and forged multisig accounts; a whitelist mechanism will go live

Solana ecosystem multi-signature agreement Squads issued a warning, pointing out that attackers launched an address poisoning attack against users by using fake accounts to trick users into making unauthorized transfers. Squads confirmed that there was no loss of funds and emphasized that this is a social engineering attack rather than a protocol vulnerability. To respond, Squads has implemented protective measures such as a warning system, non-interactive account prompts, and a whitelist mechanism. This incident reflects the growing social engineering threats in the Solana ecosystem and has prompted ongoing security reviews.

South Korean “retaliation intermediary” agencies charged USDT to carry out violent crimes, and continued operating even after the main suspect was arrested

South Korea has recently seen multiple “revenge intermediary” organizations that use cryptocurrency as a payment method. They offer intimidation and murder services via Telegram. Even though the main culprit has been arrested, related advertisements are still being posted. Police are investigating more than 50 cases and have arrested about 30 people.

Fake Ledger App on Apple’s App Store Drains Musician’s 5.9 BTC Retirement Fund

A fake Ledger app on Apple's App Store deceived musician Garrett Dutton into losing 5.9 BTC by entering his seed phrase. This case highlights ongoing wallet scams and the exploitation of trust, as the stolen bitcoin was laundered through KuCoin.