New Survey Finds One-Third of U.S. Crypto Owners Fall Victim to Theft, With an Average Cost of Nearly $100,000

A new report from cybersecurity company Kaspersky has found that one-third of crypto owners in the U.S. have experienced theft of their currency or other assets, at an average cost of $97,583. The report, titled “Crypto Threats 2023,” is based on a survey of 2,000 American adults in October 2022, and highlights the increasing popularity of crypto trading as well as the risks associated with the industry.

Younger Crypto Owners More Vulnerable to Scams, Older Owners More Security Conscious

The survey revealed that there is often more users could be doing to protect their crypto assets. On average, respondents said the last time they checked on their crypto investments was six weeks ago, and many failed to use additional security measures such as multi-factor authentication. The report also found a significant age difference in crypto trading, with 36% of respondents aged 25-44 currently owning cryptocurrency or crypto assets, compared to just 10% of those aged 55 and over. However, older respondents who do own crypto appear to be doing a much better job at protecting their assets.

According to the report, scammers are continuously seeking new ways to defraud users, including impersonating legitimate exchanges and launching phishing attacks to steal login credentials. They also use cryptojacking malware to steal computing resources from unknowing victims. A third of respondents who said they own or have owned cryptocurrency or other crypto assets said they have fallen victim to a fraudulent crypto-related website, app, or investment scam at some point. Among those victims, 19% said they experienced identity theft, while 27% had payment details stolen and money taken from their bank account.

In order to avoid falling victim to cryptocurrency-related scams, Kaspersky recommends using strong and unique passwords for each crypto account, avoiding suspicious emails and links, never sharing private keys, and using reliable security solutions. While crypto trading continues to grow in popularity, users should remain vigilant and take steps to protect themselves from potential threats.

Source: Kaspersky