Losses from wallet theft scams decreased by 83% in 2025

Crypto scam attacks related to “wallet drainer” have significantly decreased in 2025, with total damages amounting to only $83.85 million, down 83% compared to nearly $494 million the previous year, according to a report from Web3 security platform Scam Sniffer. The number of victims also dropped considerably, to about 106,000 people, representing a 68% decrease year-over-year.

However, the report emphasizes that phishing activities have not disappeared and still follow market cycles. Active market phases, especially Ethereum’s strong rally in Q3/2025, have led to a significant increase in scams, with total damages reaching $31 million. Attack methods based on approval rights, such as Permit and Permit2, continue to pose major risks, alongside new techniques exploiting EIP-7702 after the Pectra upgrade. Notably, hackers are shifting from large-scale attacks to widespread campaigns targeting small investors, with low individual damages but a large number of victims.