Recent studies reveal that cybercriminal activity in the crypto market remains high. Scams and hacks are increasing, leading to significant financial losses for investors and highlighting the need for enhanced security measures.
Chainplay and Storible's Research on Fraud
Chainplay and Storible reported that about 83% of crypto traders have fallen victim to scammers. The study surveyed 2,101 investors and 444 crypto projects. Social media plays a key role in misleading users, often exploited by criminals. The average amount lost in a single attack is $2,622. Phishing attacks account for 19% of the losses, while exchange hacks resulted in $27 billion losses. Almost every renowned project has multiple fake websites and accounts, necessitating improved security measures.
Crypto Hack Losses in Early 2025
According to PeakShield, hackers inflicted $1.63 billion in losses in the first quarter of 2025, with 92% of it lost to Bybit hacks. In January, traders lost $87 million, which increased dramatically to $1.53 billion in February. March saw slower losses down to $35 million, aided by white hat hackers. Over 60 hack and theft incidents were recorded in Q1 2025, marking a 131% increase year-on-year.
Cryptocurrency Price Analysis
The total crypto market cap was $2.67 trillion, with a loss of 1.23%, and trading volume exceeded $120 billion, surging by 61%. The crypto fear and greed index is at 24. Bitcoin showed a bearish trend, losing 1.30%. The intraday gainers included Story, Mantra, and more, while Official Trump, Cronos were among the top losers.
The current situation in the crypto market demands increased attention to security. The constant attacks on exchanges and investment projects underscore the need for stricter measures to protect users and assets.
