Phishing scams in the crypto sector are becoming more advanced, with attacks stealing more than $ 5.2 million from unrelated users in April 2025.
According to data from blockchain security firm SCAM Sniffer, losses marks 17% fall from March's $ 6.37 million. However, the number of victims advanced by 26%, with 7,565 individuals falling into fraudulent schemes last month.
Crypto phishing victims rising amongst emerging attack methods
The SCAM Sniffer reported that the most devastating incident in April was involved in a phishing signature scheme, which led to a $ 1.4 million loss.
In this case, the victim inadvertently approved many fraudulent requests, enabled the attacking to deplete their purse. These scams usually cheat on users by signing digital approval that allows token transfers without their knowledge.
Another known case is involved in a spoofing approach of address known as addressing the address. An unobtrusive user loses $ 700,000 after sending funds to a fake purse address closely resembling one who has been in contact.
Meanwhile, threat actors are changing tactics beyond the traditional phishing websites and now social engineering their victims on messaging platforms.
Yu Xian, foundchain security firm Slowmist, has warned that attacks are now targeting users via Telegram. They use voice messages that have developed and personalized chats to deceive the victims.
In a reported case, Xian noted that a compromised Telegram account was used to send voice clips that mimic the trusted contacts of a victim. Voice messages, likely made with AI tools, were built from previous voice logs to mimic tone and speech patterns.
“Don't trust a resource only. When it involves money, always establish another reliable resource for verification,” Xian Nakasa said.
These developments reflect in a previous case where an elderly US citizen has lost 3,520 BTC, worth more than $ 330 million, in a sophisticated social engineering scam.
Blockchain investigators, including the ZachXBT and Binance security team, have managed to freeze around $ 7 million linked to theft.
Certik, another blockchain security provider, reported that theft of Bitcoin has contributed significantly to the total losses of the industry in April.
According to the firm, the emerging industry lost $ 364 million in hacks, scams, and exploitation during reporting. Around $ 18.2 million in these stolen funds has recovered.
These developments emphasize the growing sophistication of crypto scams. They also feature an urgent need for improved user education, purse security, and anti-phishing tools within the industry.
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