Crypto Owners Lose Big: 30% Have Experienced Theft

• Kaspersky survey shows that 1 in 3 crypto owners in the US have experienced crypto theft and lost an average of $97,583.
• Only 34% of crypto owners use multi-factor authentication and only 15% use offline or cold wallets.
• Security researchers suggest users employ extra security measures to protect themselves from scams, phishing attacks, and cryptojacking.

Crypto Theft on the Rise

A new survey report by cybersecurity firm Kaspersky has revealed that about a third of cryptocurrency owners have lost their assets to scammers and hackers. The statistic is from a survey conducted in October 2022 involving 2,000 American adults. On average, crypto owners have lost $97,583.

Security Measures for Crypto Owners

Security researchers at Kaspersky suggest individuals can do a lot to protect their wallets from malicious actors. They advise using multi-factor authentication as well as employing offline or cold storage solutions for increased safety. Additionally, they suggest users check up on their investments regularly; the survey found that the average timespan between checks was six weeks.

High Risk of Crypto Losses

There is still a high risk of losses due to hacks and fraudulent platforms despite efforts made by industry players to increase security measures within the sector. As such, this could continue given a 10-year trend of increasing cyberattacks across the industry targeting cryptocurrencies.

Lack of Awareness on Crypto Security

The Kaspersky survey also revealed that only 34% of respondents said they used multi-factor authentication while 27% stored their assets on centralised crypto exchanges without any extra security measures employed. This suggests there is lack of awareness amongst users when it comes to protecting themselves against fraudsters and other cybercriminals targeting digital currencies.

Conclusion

Cryptocurrency owners should exercise caution when trading or investing in digital currencies since there are risks associated with holding digital assets online due to rising incidences of cybercrime activities targeting them. Implementing additional security measures such as two-factor authentication and cold storage solutions can help reduce chances of becoming victims of scams or hacks thus protecting user funds more effectively safe from malicious actors online.