Why Social Engineering Is One of Crypto’s Biggest Threats

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Many of the largest crypto losses don’t come from smart contract exploits or zero-day vulnerabilities, but from basic psychological manipulation. The FBI’s Internet Crime Complaint Center reported more than $16 billion in internet crime losses in 2024, with countless cases starting from a single convincing message or phone call.

These scams scale easily because they exploit human behavior rather than technology. By creating fear, authority, and urgency, attackers control the tempo of the interaction—and once that happens, victims often bypass their usual caution. Slowing down and independently verifying claims is one of the most effective defenses.

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slowing down for like 5 minutes would save ppl millions