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- Over $137 million was stolen across 15 DeFi protocols, with only $9 million recovered.
- Step Finance, Truebit, and Resolv are among the biggest victims of hacks and exploits.
- Most attacks are linked to preventable issues like private key leaks and smart contract bugs.
The decentralized finance industry is barely three months into 2026, and it has already suffered one of its worst security starts on record. Across 15 protocols, hackers have drained over $137 million in funds since January.
Since then, only $9 million has been recovered.
The largest single loss belongs to Step Finance, which saw $27.3 million drained through a compromised private key. Truebit followed closely at $26.2 million, lost to a smart contract bug.
Resolv (USR) lost more than $25 million through a minting vulnerability, while SwapNet hemorrhaged $13.4 million
YieldBlox DAO lost nearly $11 million to oracle manipulation but managed to recover $7.2 million, making it the only protocol to claw back a meaningful portion of stolen funds.
Rounding out the top ten are SagaEVM at $7 million, Makina at $5 million, IoTeX at $4.4 million, and both Aperture Finance and Venus Protocol at $3.7 million each.
What makes these losses particularly damning is not their scale. It is how preventable most of them were.
Compromised private keys, the attack vector behind the Step Finance and IoTeX exploits, are not protocol flaws. They are operational security failures. Oracle manipulation and reentrancy attacks, responsible for millions more in losses, have well-documented defences that have existed for years. Yet they keep working.
Smart contract bugs, validation failures, logic flaws, and supply cap manipulation round out an attack surface that security researchers have been flagging since DeFi’s earliest days.
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At $137 million in under three months, 2026 is on track to become one of the worst years in DeFi security history if the pace holds. New protocols continue launching without proper audits, expanding the attack surface faster than the industry can defend it.
Of the $137 million stolen across 15 protocols, the recovery rate sits at just 6.5 cents on the dollar.
For an industry built on the promise of trustless security, that number is very hard to defend.
Source: www.bitget.com