Crypto scam news:
A new survey by Kraken reveals a surprising truth — nearly half of crypto users see themselves as the biggest threat to their own security. Out of 789 people surveyed, 48% said they feared making mistakes more than theft or hacking. This shows that people are beginning to understand how much personal responsibility plays a role in keeping their crypto safe. As the industry grows, so do concerns around the risks of falling victim to a crypto scam.
In the world of cryptocurrency, you are often your own bank. That means there’s no middleman to recover stolen funds or fix a lost password. While this idea has always been part of crypto culture, Kraken’s study suggests users now want better protection tools. People are looking for more safety features like biometrics, two-factor authentication, and AI-based fraud detection to help them avoid becoming the next victim of a crypto scam.
Kraken’s security chief, Nick Percoco, believes that fear of personal error is slowing down crypto adoption. He says the key to moving forward is helping users build strong security habits. With better tools and education, users can manage their own wallets more safely. Self-custody is powerful, but it also comes with great responsibility — and without care, a single mistake can cost thousands or even millions of dollars.
Investors are also starting to support new ideas for boosting crypto security. For example, Worldcoin — a project backed by Sam Altman — raised $135 million for its iris-scanning technology. Another company, Humanity Protocol, raised $30 million to develop palm-based ID verification for web3 platforms. These high-tech systems aim to prevent unauthorized access and reduce the chances of falling for a crypto scam.
Fraud detection is also getting smarter. In January, Chainalysis, a blockchain analysis company, bought a startup called Alterya for $150 million. Alterya uses AI to track and stop fraud before stolen money enters the crypto space. These tools could help reduce the billions of dollars lost every year to crypto scams and fraud.
But even with advanced tools, users must remain cautious. One famous example is a man in the UK who lost 7,500 Bitcoin after throwing away an old hard drive — he ended up searching through a landfill, with almost no chance of recovery. This story highlights just how easily people can lose access to their funds due to simple mistakes, and why crypto scams remain a major concern.
According to the FBI, crypto scams cost victims $9.3 billion in 2024 alone. Older adults were the most affected, with $3 billion lost by people over 60. Every day, scammers steal an estimated $18 million in crypto. Phishing attacks, fake airdrops, and social engineering tricks are everywhere. Users must stay informed and use strong passwords, avoid suspicious links, and verify everything. In a digital world where security depends on the user, staying safe from crypto scams has never been more important.
0 Comments