Social engineering scams remain the biggest threat to crypto users, according to 2025 data from crypto trading platform WhiteBIT shared with CoinDesk.
The exchange said in a report that 40.8% of all crypto security incidents this year involved fraudsters deceiving victims with fake investment offers or impersonation tactics.
Technical wallet hacking via phishing, malware, and keyloggers follows at 33.7%. Messaging platforms, particularly Telegram, have also been reported, with more than 10% of scams involving so-called “scrolling scams” that direct users to fraudulent channels.
“While technology-based attacks are significant, the majority of threats target human behavior,” WhiteBit’s compliance team said in the report. “This is why proactive security is so important.”
That proactive security involves more than just using two-factor authentication and leveraging trusted wallets and exchanges, the team writes. It is also important to never share sensitive data and carefully verify URLs to ensure that interactions are always only with official platforms.
The findings reflect broader industry concerns. Certik reported that crypto crimes caused losses of nearly $2.5 billion in the first half of 2025 alone, while Chainalysis cited the Bybit hack, believed to be orchestrated by North Korea’s Lazarus group, as the largest theft in crypto history, totaling $1.5 billion.
WhiteBIT said that to combat risk, secure exchanges store most user assets in cold wallets, use web application firewalls, and undergo regular audits. The company said it ticks these boxes while also obtaining cybersecurity certifications.
The exchange’s compliance team added: “These measures and vigilant user practices will create a robust defense against evolving cryptocurrency threats.”
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