What is the action hook for an order that fails on frontend checkout in WooCommerce?

You can catch specific status change by using this action hook ‘woocommerce_order_status_{status}’. It is defined in the WC_Order class.

This is how you define it:

/**
 * Executed when the status is changed to failed.
 * @param int $order_id
 * @param \WC_Order $order
 */
function wpdg_9291_woocommerce_order_status_failed( $order_id, $order ) {
    // Do something here
}
add_action('woocommerce_order_status_failed', 'wpdg_9291_woocommerce_order_status_failed', 15, 2);