Fraud in the world of digital currencies caused massive losses amounting to about $6 billion in the first quarter of 2025, an increase of up to 6,500% compared to the same period last year, when losses were recorded at only $90 million.

According to the DappRadar report, 92% of these losses are related to the 'Mantra Platform' incident, which is considered one of the largest frauds in recent years. Despite these staggering losses, the frequency of fraud incidents saw a decrease of 66%, with only seven incidents reported in 2025 compared to 21 incidents in the same period last year.

The report also indicates that irregular activity on some platforms, such as the number of transactions dropping to zero on certain days, raises concerns about potential data manipulation, suggesting the possibility of some platforms manipulating their activity to appear more active than they actually are.