The Real Threat: Social Engineering Attacks in Crypto

Introduction

The majority of crypto users fear code hacks and exchange hacks, yet social engineering has stealthily become the biggest threat. 2025 hackers do not care about systems  humanity is what matters to them.

What is Social Engineering in Crypto?

Social engineering is the act of psychological manipulation to gain unauthorized access. Common examples in the crypto space include:

• Phishing emails

• Clone wallet interfaces

• Impersonation on Twitter and forums

Wallets and User Errors

Even the most secure crypto wallet will not be able to shield users from exposing their seed phrase. Similarly, the most secure bitcoin wallet will get hacked when paired with:

• A fraudulent support line

• A phishing web page

To counter this, the most secure cryptocurrency wallet of the contemporary age now needs to integrate:

• Real-time phishing detection

• Warning alerts

• Biometric login protection

Recent Examples

These high-profile hacks, including the 2024 "Web3 Wallet Scam Ring," indicate even old hands are targeted.

• Over $30 million in assets was stolen through:

  • Phishing support chat

  • Malware browser extensions

Conclusion

The best protection is education against social engineering. Wallet providers and the wider crypto space must increase security literacy initiatives to better protect users.