Report: Cryptocurrency Network Phishing Losses Decrease by 83% in 2025, but Attackers Shift to Low-Amount High-Frequency Strategies

CoinVoice has learned that, according to a report by Cointelegraph, Web3 security platform Scam Sniffer shows that cryptocurrency phishing attacks related to wallet drainers declined significantly in 2025, with total losses dropping to $83.85 million, an 83% decrease from nearly $494 million in 2024. Despite the substantial reduction in losses, the report warns that phishing activities have not disappeared; attackers are shifting to low-amount, high-frequency strategies. Losses are closely tied to market cycles, increasing during periods of active on-chain activity and decreasing during market cooling.

The third quarter of 2025 coincided with Ethereum (ETH)'s strongest annual rally, during which phishing losses reached as high as $310 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 affected users also rises — the likelihood of phishing incidents is positively correlated with user activity.” Monthly losses ranged from $20.4 million in December, the calmest market period, to $121.7 million in August, the most active month.