TechFlow reported on January 19 that Immunefi CEO Mitchell Amador told CoinDesk most losses stem from Web2 operational failures—such as stolen credentials and social engineering—rather than on-chain code vulnerabilities. According to Chainalysis data, approximately $17 billion in cryptocurrency was lost to scams and fraud in 2025. Impersonation scams surged by 1400% year-over-year, and AI-assisted scams generated 450% higher profits compared to traditional methods. As code becomes harder to exploit, attackers are increasingly targeting humans, while over 90% of projects still have critical vulnerabilities.
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