Despite numerous warnings and reminders about the importance of DYOR (do your own research) and due diligence to avoid exploitation, a recent study (https://chainplay.gg/blog/study-83-percent-crypto-investors-scammed-hacked/?msID=3183decd-f62b-4c3d-a64e-a478bc80f426) by ChainPlay and Storible revealed that 83% of crypto investors have fallen victim to scams or hacks.You can read more of this in BitPinas (https://bitpinas.com/feature/crypto-scam-hack-study-2025/).
The study identified the top fraud methods affecting crypto investors: Social media impersonation – 34.02%, Exchange/platform hacks – 21.30% and Phishing attacks – 18.64%. The study also highlighted that scammers are increasingly using fake accounts and phishing websites to target investors.
I find it's weird this study include "Exchange/platform hacks – 21.30%", since on some cases it's partially fault of exchange/platform chosen by investor. But even excluding that, the percentage is still high at 61.7%.All I know that matters is for people to learn how to avoid crypto scam. A research like this will not be able to discourage people because such people even find it hard to protect their coins, so how will they even also come about this news. Those that are updating themselves that know how to protect their coins, reading news and/or being on a forum are the people that are reading this. Also some people may not learn until they are scammed. Although, I also find it hard to believe this research. If I have time, I will reach the methodology used for it.
I am not anymore surprised of the result of this study but coming from a victim myself of phishing it is still uncomfortable to think about it...how the cryptocurrency industry has become the vacation paradise of scammers and hackers punching the wallets of the people and platforms. We can now conclude that scamming, hacking is now a 24/7 enterprise and with amazing great rewards waiting for successful intrusion there is a big incentive to do everything they can victimizing us. This is true right now and am sure will still even be truer in the coming years as these people are steps ahead of the available security technologies at placed and used.If they're tech experts, being a hacker could be an appealing profession in the crypto market:
I find it's weird this study include "Exchange/platform hacks – 21.30%", since on some cases it's partially fault of exchange/platform chosen by investor. But even excluding that, the percentage is still high at 61.7%.
honestly i am not surprised that social media impersonation is the biggest percentage in here because there really is a lot of misinformation going around social media and people usually do not use any critical thinking skills when they are strolling on social media and always end up being victimized(https://bitpinas.com/wp-content/uploads/2025/04/Top-Scams-Dominating-Crypto.png)
We can now conclude that scamming, hacking is now a 24/7 enterprise and with amazing great rewards waiting for successful intrusion there is a big incentive to do everything they can victimizing us. This is true right now and am sure will still even be truer in the coming years as these people are steps ahead of the available security technologies at placed and used.anywhere where money is there will always be scammers around they infiltrate all kinds of industries it seems like all scammers are in crypto industry because it is the one "trending" or popular at the moment and therefore more victims to find
I am not anymore surprised of the result of this study but coming from a victim myself of phishing it is still uncomfortable to think about it...how the cryptocurrency industry has become the vacation paradise of scammers and hackers punching the wallets of the people and platforms. We can now conclude that scamming, hacking is now a 24/7 enterprise and with amazing great rewards waiting for successful intrusion there is a big incentive to do everything they can victimizing us. This is true right now and am sure will still even be truer in the coming years as these people are steps ahead of the available security technologies at placed and used.Phishing scams and the hacks of centralized exchanges are the main sources for hackers and scammers to loot money. You are right, crypto has really become a paradise for them, and day by day, they are becoming more active, and people are still losing.
I am not anymore surprised of the result of this study but coming from a victim myself of phishing it is still uncomfortable to think about it...how the cryptocurrency industry has become the vacation paradise of scammers and hackers punching the wallets of the people and platforms. We can now conclude that scamming, hacking is now a 24/7 enterprise and with amazing great rewards waiting for successful intrusion there is a big incentive to do everything they can victimizing us. This is true right now and am sure will still even be truer in the coming years as these people are steps ahead of the available security technologies at placed and used.
The study identified the top fraud methods affecting crypto investors: Social media impersonation – 34.02%, Exchange/platform hacks – 21.30% and Phishing attacks – 18.64%. The study also highlighted that scammers are increasingly using fake accounts and phishing websites to target investors.Although this research result may not be 100% accurate, I still do not have any reason to doubt it. We all do not need to be told that scam is really on the increase and scammers/hackers are becoming really sophisticated. If scam/hacking wasn't lucrative, maybe the number of scammers would have reduced significantly, but unfortunately, people are falling victim every now and then.
Yes, I know it should really be our responsibility, but with hackers sophisticated attacks, it's really hard to really get away from this cyber criminals. I mean there could be times that we do our DYOR, but at some point when we let our guards down, that could be the time that we will be the victims. So it's really hard to maintain that and most of this kind of attacks are beyond our control. We can only hope that our security knowledge is enough and the practices that we do is secured so that we will not be the next victims in the space that we live in.The study identified the top fraud methods affecting crypto investors: Social media impersonation – 34.02%, Exchange/platform hacks – 21.30% and Phishing attacks – 18.64%. The study also highlighted that scammers are increasingly using fake accounts and phishing websites to target investors.Although this research result may not be 100% accurate, I still do not have any reason to doubt it. We all do not need to be told that scam is really on the increase and scammers/hackers are becoming really sophisticated. If scam/hacking wasn't lucrative, maybe the number of scammers would have reduced significantly, but unfortunately, people are falling victim every now and then.
Right now, everyone on the internet is a suspect unless proven otherwise. Alot is really happening that is why we must always keep ourselves updated
The scammers have also mastered the 'art' of impersonation in the real world but it's easier to do with the online apps that allows users to create without proper identity verification. This is probably why the blue marks or whatever marker they have is also a thing for people doing their business on social media.it is a lot more difficult to fake anything if it involves real life it is not like we can shape shift but on the internet you are just a pixel on the screen and you can be anonymous or you can make a totally fake identity no one will know for sure if your profile picture and your name are your real ones
---Knowing how gullible investors can be especially in an asset where you can make money in just a few days, scammers will try everything to attract them until they will scam them.
I am not anymore surprised of the result of this study but coming from a victim myself of phishing it is still uncomfortable to think about it...how the cryptocurrency industry has become the vacation paradise of scammers and hackers punching the wallets of the people and platforms. We can now conclude that scamming, hacking is now a 24/7 enterprise and with amazing great rewards waiting for successful intrusion there is a big incentive to do everything they can victimizing us. This is true right now and am sure will still even be truer in the coming years as these people are steps ahead of the available security technologies at placed and used.
I find it's weird this study include "Exchange/platform hacks – 21.30%", since on some cases it's partially fault of exchange/platform chosen by investor. But even excluding that, the percentage is still high at 61.7%.
Scammers use different social engineering techniques to scam their victims, but so many people make themselves an easy target, either through greed or just a lack of research. There are many crypto investors who have not been hacked, so it is very possible to keep your funds safe.I agree with you, but it is certain that these investors must have fallen for one scam or the other before being so grounded. One thing I observed with scams, you can only advice people and feel safe when you haven't been a victim but trust me when those scammers comes your way most times, you'll be so carried away and fall for their scams.
I just feel that before you could really know how to avoid and identify when you want to be scammed, one must have gotten the experience.You are not the first person i have heard say this, however i completely disagree with you and also everyone who thinks this way, if you have this mindset, you already make yourself vulnerable to scams. I have never been scammed, but i know very well how to avoid scammers.
You may be right @Z-tight, everyone has a different mindset towards things like this. I also was like you, I believed I know every tactics of these scammers and I even try to pass my little knowledge to others when it comes to avoiding scammers until the unfaithful day I was scammed.I just feel that before you could really know how to avoid and identify when you want to be scammed, one must have gotten the experience.You are not the first person i have heard say this, however i completely disagree with you and also everyone who thinks this way, if you have this mindset, you already make yourself vulnerable to scams. I have never been scammed, but i know very well how to avoid scammers.
impersonation??? is it like someone who sends a message on telegram using a binance profile picture and asks me to verify or something related to my binance exchange account??? or what kind of fraud method is usually associated with this impersonation???i believe it is when on social media you will see accounts that either fake people or of existing famous people and they will talk to you and make you believe their lies and somehow get you to trust them some impersonators will pretend to befriend you or even get in a relationship with you before they convince you to invest on something or send your money somewhere
as far as I know, only such methods often flood my telegram messages... without thinking twice, I immediately blocked it and didn't want to have any more contact with such an account.... usually it asks for an OTP code or 2FA code, and that's already very suspicious so I don't want to take any more risks...otp scams are very popular and common this allows for hackers to get any personal information or just any sensitive information from you by tricking you they will usually lure you in with a sense of urgency saying there is suspicious account on your device and therefore you need to send an otp do not panic and automatically give away any sensitive information
all these have happened out of ignorance which they would have avoided assuming they were being informed before hand.Sometimes it is not only ignorance that gets people scammed, there are people who are knowledgeable, but they make a mistake and get scammed. That is why it is important to maintain good opsec at all times, some people even make mistakes and lock themselves out of their funds, so before implementing an extra layer of security, make sure you know exactly what you are doing.
If you are to keep on asking the crypto victims that had lost their assets most of them will be either under the scam category or those under the hack category to have lost on their cryptocurrency asset, this shows that we need more to put in place because people are not going in the expected manner they should take while handling their digital assets, all these have happened out of ignorance which they would have avoided assuming they were being informed before hand.Newbies in general are ignorant in nature because they don't know anything or at least they don't know that much with investing yet that's why we always say that if you're a newbie, don't invest your money first, but equip yourself with knowledge first because you will be the prey of these scammers and hackers, and they're lurking everywhere in the internet.