Crypto Security in 2025: Social Engineering Takes the Lead

According to recent data from WhiteBIT, a prominent cryptocurrency trading platform, social engineering scams continue to pose the greatest threat to crypto users in 2025, making up 40.8% of all security incidents. These scams involve deceiving victims through fake investment offers or impersonation tactics. Technical wallet hacks, including those perpetrated via phishing, malware, or keyloggers, follow closely, comprising 33.7% of incidents. Notably, messaging platforms like Telegram have been exploited in over 10% of scams, often through 'scrolling scams' that lure users into fraudulent channels. The compliance team at WhiteBIT emphasizes that while technology-based attacks are significant, the majority of threats exploit human vulnerabilities, underscoring the importance of proactive security measures. Such measures include the use of two-factor authentication, reliance on trustworthy wallets and exchanges, and the careful verification of URLs to ensure interactions are limited to official platforms. The report's findings align with broader industry concerns, as highlighted by Certik's report of nearly $2.5 billion lost to crypto crime in the first half of 2025 and Chainalysis's identification of the Bybit hack as the largest crypto theft in history, valued at $1.5 billion. To mitigate these risks, secure exchanges like WhiteBIT store the majority of user assets in cold wallets, utilize Web Application Firewalls, and undergo regular audits, complemented by rigorous user vigilance to create a robust defense against evolving crypto threats.