#CryptoScamSurge Crypto scams have surged in 2025, with over $2 billion stolen in the first half of the year, already nearing the total amount recorded in 2024. This dramatic increase is attributed to sophisticated approaches targeting both cryptocurrency exchanges and individual wallets.
*Types of Scams:*
- *Deepfake Scams*: AI-generated deepfakes are playing a leading role in these scams, with scammers using synthetic videos, fake Zoom calls, and Trojan-laced job offers to deceive victims.
- *Pig Butchering Scams*: Scammers build trust over time before draining victims' funds, with a 210% jump in deposits linked to these scams in 2024.
- *Social Engineering*: Scammers exploit emotional manipulation tactics, including FOMO and romance scams, to lure in unsuspecting investors.
- *Ponzi Schemes*: Scammers disguise Ponzi schemes as DeFi or NFT projects to deceive victims.
*Notable Incidents:*
- The $1.5 billion ByBit hack, attributed to state-sponsored attackers from North Korea, is considered the largest crypto hack in history.
- CoinDCX, a cryptocurrency exchange, announced a hack on July 19 that cost them around $44 million.
*Prevention Measures:*
- Verify links and avoid suspicious downloads.
- Stay informed about the latest scam tactics.
- Use stronger defenses and regular security training.
- Foster a "verify before you trust" mindset.
*Industry Response:*
- Bitget has launched an "Anti-Scam Month" global awareness campaign to educate users and improve industry security standards.
- The company has rolled out an Anti-Scam Hub and enhanced detection systems, maintaining a $500 million Protection Fund to help cover losses from fraud.