Swissquote, the trading platform behind the Yuh app, has been directed by Swiss regulators to address the rising number of phishing and impersonation attempts targeting its services. In the first half of 2025, over 600 fraudulent websites mimicking Swissquote were identified, as reported by Bloomberg. The Swiss Financial Market Supervisory Authority (FINMA) highlighted the Yuh platform, which includes crypto trading, as a significant target for scammers. CEO Marc Buerki noted that the increase in fraudulent activities is largely due to AI, which facilitates the launch of such malicious campaigns. He assured that no internal systems were breached by these fake sites. The crypto sector continues to grapple with scams, leading to billions in losses annually and deterring potential investors. In 2025 alone, on-chain incidents have resulted in approximately $2.1 billion in losses, primarily from phishing and wallet compromises. Cybersecurity firm CertiK emphasized the need for vigilance against various deceptive tactics employed by scammers. Read more AI-generated news on: https://app.chaingpt.org/news

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