Increased Risk of Phishing Attacks Highlighted by CertiK's Warning
In the rapidly evolving world of cryptocurrencies, security remains a significant concern. Last year, DMM Bitcoin announced its liquidation, an event mentioned in the annual report by CertiK and confirmed by a CertiK representative to Cointelegraph.
The report, titled the 2024 Hack3d Report, provides insights that shaped the year and offers valuable insights into what's next. One of the key predictions is a significant increase in phishing attacks as a key trend in 2025 within the crypto ecosystem.
This surge is expected to be driven by the ongoing surge in digital asset adoption, regulatory gaps, and sophisticated scam tactics. Crypto investors have already suffered massive losses from hacks and scams, with 144 hacking or scam incidents reported in Q2 2025 alone and a year-to-date total of 344 incidents causing billions in financial damage.
The report highlights several key points about phishing trends in 2025:
- Phishing attacks will continue to escalate due to the favourable conditions for cybercriminals, including the anonymity of blockchain transactions, the decentralized nature of crypto platforms, and slow pace of regulatory enforcement.
- Attackers exploit the fear of missing out (FOMO) among retail investors, especially targeting memecoins and rapidly growing digital asset markets, to deploy increasingly convincing phishing and scam campaigns.
- The average financial loss per security incident has grown, reaching around $4.3 million in 2025, reflecting both the scale and sophistication of phishing and other social engineering attacks.
- Given the rising phishing risks, crypto users and platforms must reinforce security awareness and auditing mechanisms to protect against credential theft and scam exploits.
In addition to phishing, the report identifies private key compromise as the second most significant threat, leading to over $855 million in losses across 65 incidents. The May 2024 attack on Japanese cryptocurrency exchange DMM Bitcoin resulted in a loss of 4,502 BTC (worth $320 million at the time).
The past year has seen Web3-market losses exceed $2.9 billion, with DeFi, CeFi platforms, gaming, and metaverses being affected. Phishing tactics are expected to evolve in 2025, potentially involving the use of artificial intelligence. In 78% of cases, Web3 exploits in the past year stemmed from access control vulnerabilities.
As we look forward to 2025, it is crucial for the crypto community to stay vigilant and prioritise security measures to protect against these threats. The 2025 Hack3d Report is yet to be released, but the insights from its predecessor serve as a stark reminder of the importance of security in the crypto sphere.
In light of the Downturn of DMM Bitcoin last year, compounded by escalating phishing attacks and private key compromises in 2025, the advancement of technology, particularly within the Defi and cybersecurity spheres, becomes increasingly crucial to protect users and platforms from financial damage. The rapidly growing crypto ecosystem, along with the anonymity of blockchain transactions and regulatory gaps, is making phishing attacks more prevalent, using tactics such as artificial intelligence to deceive investors and causing immense losses. Reinforced security measures and heightened awareness are necessary to combat these threats and safeguard the crypto community moving forward.
