Crypto Phishing Losses Plunge 83% in 2025, But ‘Whale Hunting’ Attacks Rise
Reported crypto phishing losses dropped 83% in 2025, but sophisticated 'whale hunting' attacks targeting high-net-worth individuals are increasing.Summary
Reported losses from cryptocurrency phishing attacks significantly decreased by 83% in 2025, falling to approximately $84 million from $494 million the prior year, according to a report by Scam Sniffer. The data shows phishing losses correlate with crypto market cycles, peaking in Q3 during a strong Ethereum rally. However, the report warns that this overall drop masks a shift toward more sophisticated threats. While the total number of victims fell by 42% in November, financial losses spiked by 137%, indicating attackers are abandoning mass-market spam for targeted "whale hunting" against high-net-worth individuals, driving the average loss per victim up to $1,225. Furthermore, attackers exploited new vulnerabilities, such as leveraging Ethereum's 'Pectra' upgrade (EIP-7702) to bundle malicious operations into single signatures. Scam Sniffer noted that this tracked figure excludes losses from other methods like social engineering and private key compromises.
(Source：BeInCrypto)