‘Concerning trend’: Impersonation scams swell 1400% in 2025

Crypto security experts said a good way to counter scams that rely on deceiving victims is to be skeptical of every unsolicited message and interaction.

Scammers and fraudsters increasingly used impersonation scams to steal crypto from unsuspecting users last year, with a 1400% year-over-year spike in cases, according to Chainalysis. 

Impersonation scams involve fraudsters posing as a trusted person or organization in an effort to trick victims into handing over crypto, passwords, account access and other sensitive information. 

In a crypto crime report on Tuesday, Chainalysis said fraudsters have been incorporating multiple tactics into their operations.

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