Swissquote, the online trading platform behind the friendly Yuh encryption app, was requested by Swiss organizers to reduce the number of attempts to pursue personal platforms targeting its platforms.
More than 600 web sites have been discovered that impersonated the character of Swiss platforms or attempt to defraud users through fraudulent login gates in the first half of 2025, according to what they said. Bloomberg.
The Swiss Capital Market Supervision Authority (Finma) cited the YuH platform, which is also the encryption trade, as a major goal of fraud campaigns committed by fraudsters.
The CEO of Swissquote Mark Berki attributed the rise in fraudulent activity to artificial intelligence, which makes Harmful campaigns are easier at all. The CEO also said that no internal systems were hacked due to fake sites.
Cointelegraph communicated to the company but did not receive a response at the time of publication.
Fraud operations are still a problem for the encryption industry, and cost users Billions of dollars in collective losses Annually and inhibitors for the potential market participants from the digital asset contract.
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Related to: Trezor warns users not to reduce emails that simulate customer support
The fraudsters convert the focus into the deception of users instead of processing the code
“Until now in 2025, onchain accidents led to [around] $ 2.1 billion in losses. The majority of the losses came from compromise solutions to the wallet and hunting, with an increase in data leakage, it is important to remain vigilant. books in May.
Hunting attacksSocial engineering campaigns, fraudulent web sites, impersonation online and Treating poisoning fraud processes They are some of the most common methods that actors use to threaten users ’deception and steal money.
He was the elderly The target of a theft of $ 330 million In April through the social engineering fraud process, According to To ONSAIN Detective Zachxbt. Theft was classified as the fifth largest coding loss in history.
Even ancient warriors in the experienced industry fall prey to deceive advanced social engineering. In June, the highly honorable capitalist capitalist Mahdi Farouk, an investment partner in Hypersphere, was. Detected It was Victims of a hunting attack That drained the majority of his life savings.
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