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Check an AddressA new wave of sophisticated phishing attacks is sweeping the crypto industry, powered by artificial intelligence. According to cybersecurity firm Right-Hand, deepfake voice phishing rose by 1,633% in Q1 2025 compared to the previous quarter.
Traditional phishing relied on poorly written emails and obvious scams. Today's AI-powered attacks are frighteningly convincing:
Large language models (LLMs) allow attackers to craft incredibly convincing phishing messages, voice calls (vishing), and SMS texts, often personalized at scale. These aren't generic "Nigerian prince" emails anymore they're targeted, contextual, and disturbingly human-like.
One victim reportedly lost $330 million in Bitcoin to a social engineering attack. Fake customer support calls have drained over $100 million from user wallets by impersonating legitimate exchange support staff.
On August 19, 2025, an individual Bitcoin investor lost 783 BTC ($91 million) to a social-engineering and phishing attack. The scammers impersonated customer support staff from a major hardware wallet company, convincing the victim to share recovery phrases over an encrypted chat.
The Polkadot community takes scam fighting seriously. It's the first ecosystem with a dedicated Anti-Scam Team that investigates and responds to fraud. The Web3 Foundation has also joined the Crypto Defenders Alliance (CDA), a consortium working to prevent the laundering of stolen funds.
Remember: if something feels off, it probably is. Take your time, verify everything, and never let anyone rush you into a decision involving your crypto assets.
