Report: Cryptocurrency Phishing Losses Drop 83% in 2025, but Attackers Shift to Low-Value, High-Frequency Tactics

Odaily News Web3 security platform Scam Sniffer's report indicates that cryptocurrency phishing attacks related to wallet drainers saw a significant decline in 2025, with total losses dropping to $83.85 million, an 83% decrease from nearly $494 million in 2024. Despite the substantial drop in losses, the report warns that phishing activities have not disappeared; instead, attackers have shifted to low-value, high-frequency strategies. Losses are closely tied to market cycles, increasing during periods of active on-chain activity and decreasing when the market cools down. The third quarter of 2025 coincided with Ethereum's (ETH) strongest annual rally, during which phishing losses reached as high as $31 million, accounting for nearly 29% of the year's total losses.

The report states: "When the market is active, overall user activity increases, and the proportion of victimized users also rises—the probability of phishing is positively correlated with user activity volume." Monthly losses ranged from $2.04 million in December, the calmest market period, to $12.17 million in August, the most active market period. (Cointelegraph)