The crypto trust crisis nobody wants to admit

Cryptocurrency scams have surged in 2024, with fraud generating at least $9.9 billion in illicit revenue. Chainalysis warns the total could reach a record $12.4 billion as data continues to emerge. Sophisticated phishing attacks and fake DeFi sites are eroding trust even among experienced users.

Security remains an afterthought in the industry. Despite available tools, phishing protection is not integrated into core infrastructure, stalling adoption due to safety concerns. The looming threat of quantum computing adds another LAYER of risk. By 2030, systems must adopt post-quantum cryptography to avoid a full-blown credibility crisis.

The urgency for action is palpable. Security must be prioritized with the same intensity as scaling solutions or DeFi yields. Without immediate measures, future billion-dollar hacks will force reactive fixes—too little, too late.