Phishing scams in the crypto sector are becoming increasingly sophisticated, with attackers stealing over $5.2 million from unsuspecting users in April 2025.
According to data from the blockchain security company Scam Sniffer, these losses represent a 17% decrease compared to March's $6.37 million. At the same time, the number of victims increased by 26%, with 7,565 individuals falling victim to fraudulent schemes last month.
The rise of crypto phishing victims amid the evolution of attack methods
Scam Sniffer reported that the most destructive incident in April was related to a signature phishing scheme that resulted in a loss of $1.4 million.
In this case, the victim unwittingly approved several fraudulent requests, allowing the attacker to drain their wallet. Such scams typically trick users into signing digital permissions that authorize token transfers without their knowledge. Another notable case involved an address spoofing technique known as address poisoning. An unsuspecting user lost $700,000 after sending funds to a fake wallet address that closely resembled one they had interacted with previously.
Meanwhile, attackers are developing tactics beyond traditional phishing websites and are now engaging in social engineering of their victims through messaging platforms.
Yu Xiang, the founder of the blockchain security company SlowMist, warned that attackers are now targeting users via Telegram. They use AI-generated voice messages and personalized chats to deceive victims.
In one reported case, Xiang noted that a hacked Telegram account was used to send voice clips that imitated the victim's trusted contacts. The voice messages, likely created using AI tools, were built on previous voice recordings to mimic tone and linguistic patterns.
"Do not rely on just one source. When it comes to money, always establish another reliable source for verification," said Xiang.
These events reflect an earlier case where an elderly U.S. citizen lost 3,520 bitcoins, valued at over $330 million, due to a complex social engineering scam.
Blockchain researchers, including ZachXBT and the Binance security team, were able to freeze approximately $7 million related to the theft.
CertiK, another blockchain security provider, reported that the theft of bitcoins significantly impacted the overall losses in the industry in April.
According to the company, the new sector lost $364 million due to hacks, scams, and exploits during the reporting period. About $18.2 million of these stolen funds have already been returned.
These events highlight the increasing complexity of crypto scams. They also emphasize the urgent need for improved user education, wallet security, and anti-phishing tools in the industry.#BinanceSquare #Write2Earn #Squar2earn #Binance #crypto $ETH