Social Engineering Scams remain the top threat to crypto users, according to 2025 data from cryptocurrency trading platform Whitebit shared with Coindesk.
In its report, the Exchange said it found that 40.8% of all crypto security incidents this year involved frauds that duped victims through fake investment offers or impersonation tactics.
Technical wallet hacks, through phishing, malware or keyloggers, followed by 33.7%. Messaging platforms, especially Telegram, have also been flagged, with more than 10% of scams involving so-called “scroll scams” where users are tied to fraudulent channels.
“While technology-based attacks are significant, the majority of threats target human behavior,” Whitebit’s compliance team wrote in the report. “This is why proactive security is critical.”
That proactive security doesn’t just involve using two-factor authentication or seizing reliable wallets and exchanges, the team wrote. It’s also about not sharing sensitive data and carefully verifying URLs to ensure interactions are always only with official platforms.
The findings concern broader industry concerns. Certik reports approx $2.5 billion lost to crypto crime only in the first half of 2025, while the chainalysis bybit hack is highlightedbelieved to have been orchestrated by North Korea’s Lazarus group, as the largest theft in crypto history, worth $1.5 billion.
To counter the risks, Whitebit said Secure Exchanges store most user assets in cold wallets, use web application firewalls, and undergo regular audits. The company says it checks these boxes, while also holding cybersecurity certifications.
“Together, these measures combined with vigilant user practices create a robust defense against emerging crypto threats,” the Exchange’s compliance team added.
