Web3 losses in the first quarter of 2026 amounted to $482.6 million, according to Hacken's Security & Compliance Report. This figure represents a 20.9% increase from the previous quarter, largely due to an $18.2 million scam on March 31. According to NS3.AI, phishing and social engineering were responsible for $306 million, accounting for 63.4% of the total losses. Additionally, smart contract exploits resulted in $86.2 million in losses across 28 incidents.