The cryptocurrency scene underwent rapid development, especially in the world of financial crime and fraud.
With the maturity of the industry, the threats facing digital assets have become increasingly sophisticated. One of the prominent breakthroughs to the state’s electronic crime is formed 2025 to be a decisive year for encryption security with a newer shock, which is the steal of BIP with a value of $ 1.5 billion last month.
The fraudsters take advantage of the lack of disclosure of its identity, speed, and the absence of an organization in the ecosystem of the digital assets to carry out fraud operations, including Ponzi plans, rug withdrawal, and primary currency shows (ICOS). These actions use deceptive marketing, fake identities, manipulation from the interior to create noise in the artificial market, and mislead victims to invest in projects that are not existent or exaggerated.
Thus, while the industry is witnessing a horrific epic and shock of financial crimes and fraud in Web3, Brandtalk talks to Erin Fraolli, the world’s world -class intelligence and investigations, to understand the security threats facing WeB3 and strategies to prevent such crimes from defrauding users and entities. Specialized in detection of fraud, Blockchain analyzes, and cybersecurity, Erin also discusses the role of central exchanges against Defi in preventing crime and the need for cooperative approach. Read ..
On the growing numbers of financial crimes, the Binance Intelligence Chief says, “Over the past year, the scene of fraud associated with encryption and financial crimes has developed significantly in February 2025.
One of the most prominent incidents included a pioneering exchange in the cryptocurrency, which suffered from a security breach, which led to the loss of approximately $ 1.5 billion of ETHEREUM, the largest digital theft in the history of the cryptocurrency. Investigations indicate that the state -affiliated electronic groups, especially from North Korea, were responsible for more than $ 1.3 billion of these stolen money, which confirms the involvement of actors in national countries in widespread encryption crimes. These events highlight the advanced tactics of electronic criminals and the development of illicit activities in the encryption space.
In 2024 alone, the web3 ecological system witnessed more than 760 security incidents, which led to losses exceeding $ 2.3 billion. This represents an increase of 31.6 % compared to 2023. The hunting attacks have become the most expensive, representing $ 1.05 billion through 296 accidents.
In the first days of Bitcoin (2009-2013), fraud was mostly Ponzi plans (for example, Bitcoin Savings & Trust) and Darknet Market Transactions.
From 2014-2017, ICO fraud increased with projects such as Onecoin Defrauding Investors. Defi Boom (2018-2021) presented rugs, the exploitation of flash loan, and governance attacks. NFTS (2021-2022) witnessed washing, hunting, and trading from the inside.
Today, the frauds driven by artificial intelligence, bridge attacks through the series, and the sponsored by the state (for example, the Lazaros group in North Korea) dominates, reflecting the increasing complexity of WEB3 financial crimes.
“However, they also boost the industry’s commitment to strengthening security measures,” says Erin.
With the maturity of the ecosystem for encryption, pre -emptive measures such as the improved KYC/AML procedures, chain analyzes and cooperation at the level of industry are necessary in addressing emerging threats and enhancing a safer digital asset environment. “
When I was asked if there are specific areas where you see a higher concentration of illegal activities, Erin Opines:
Although we do not publicly reveal specific areas with higher concentrations of illegal activities, we monitor and analyze transactions worldwide patterns to determine and mitigate any potential risks. Our goal is to guarantee a safe and safe trading environment for all our users, regardless of their location.
Strategies to prevent and discover financial crime
CYBERCRIMINALs take advantage of decentralized financing (Defi), NFTS, and cross -chain protocols, making fraud detection increasingly complicated. From smart weaknesses to money laundering through encryption mixers, the risks are wide.
With regard to strategies for preventing such crimes, Irene argues, “The discovery and prevention of financial crime in the area of digital assets requires a multi -layer approach that combines advanced technology, organizational cooperation, and user education.
The industry has witnessed increasing threats, from advanced breakthroughs to state criminals of the state, making strong security measures more important than ever. The world’s exchanges benefit from monitoring transactions, strict KYC/AML protocols, and partnerships with the application of the law to track illegal activities and enhance transparency. At the same time, we explore potential emerging technologies such as artificial intelligence in improving systems and discovering threats.
The role of the central exchanges against Defi in preventing crime
Central stock exchanges (CEXS) work as a gateway against and implement financial crimes Kyc/AML checksAnd monitor transactions and organizational cooperation to detect illegal activities. They can freeze assets and assist the application of law. in contrast, Defi platformsWhile transparent, facing challenges due to The nickname and decentralizationMake the implementation difficult. Since the entities that often become a target for financial crimes, Erin believes that CEXS can instill some practices to stop becoming a victim of such crimes.
Central stock exchanges play a decisive role in preventing financial crime, in an attempt to provide an organized and very organized environment.
With the participation of an example of Binance, Erin says in Binance, we benefit from a multi -layer proactive security approach that includes monitoring of transactions, checking KYC/AML, and actual time risk assessments. In 2024 alone, we helped prevent more than $ 2.4 billion from potential fraud losses and freezing millions in illegal transactions associated with prominent electronic attacks. Our active cooperation with the enforcement of global law, including recent efforts on the day of the regional law enforcement of APAC, has been a key role in tracking illegal actors, restoring stolen assets, and setting industry standards for security.
However, we believe that the future of encryption security lies in a hybrid approach that combines the transparency and innovation of Defi with organizational guarantees and security measures of central platforms. By enhancing cooperation between organizers, industry leaders and Defi developers, we can build a safer and more flexible digital asset system
The emerging threats in 2025 and beyond
With the development of digital assets and web3, as well as financial crime tactics. In the future, Eren highlights the most urgent security threats, including:
The encryption industry faces increasingly advanced security threats, driven by electronic crimes backed by artificial intelligence, state -sponsored attacks, and weaknesses in emerging technologies.
Deepfake fraud and hunting by artificial intelligence allows fraud in social engineering, as it appears in the 2024 attack, where Deepfake CEO fill an employee on the stock exchange to agree to fraudulent transfers.
The state -backed piracy groups stole more than $ 1.3 billion from Crypto last year, targeting exchanges and Defi platforms.
Crossed bridges are still a great place, as multi -time penetration has revealed security risks.
In addition, API exploits and wallet approvals highlight the need for stronger approval and loser.
To face these threats, the Binance and the industry are and must invest in the discovery of fraud that artificial intelligence, actual time monitoring, multi -party account (MPC), and strong frameworks, while enhancing cooperation with organizers and cyber security agencies. Continuous security measures will be decisive in maintaining confidence and flexibility in the ecosystem of advanced digital assets
Irene says that exchanges and organizers should work together
In the era of high financial crimes in the area of digital assets, Irene Farakoli It emphasizes the need for more cooperation between Exchanging encryption and organizers.
Effective cooperation between the exchange of encryption and organizers is necessary to relieve the risks in the area of digital assets. Binance emphasizes the importance of these partnerships, which highlights that obtaining licenses from encryption organizations facilitates international cooperation and attracts big investors.
Moreover, the Binance Partnership with the organizers confirms its commitment to enhancing compliance standards in line with advanced global cryptocurrencies regulations
By working closely with the organizers, exchanges can enhance a compatible environmental system, ensure transparency and safety in the industry
It is worth noting that in a response provided by the CFCS Center at the ROYAL UNITD Institute of Services (Rusi) to Parliament in the United Kingdom, CFCs also stated that the organizers need to understand the emerging trends within the encryption space, digital assets and associated risks. Consistent training for organizers can help these new ways to combat financial crime. The South Korea Financial Intelligence Unit (FIU) recently enhances its AML rules to treat encryption crimes.
How can investors protect themselves from financial crime?
With the growth of financial crimes in the area of digital assets, both Founding investors and investors for sale in retail Strong security measures should be adopted to protect their assets. Irene says that the participation of her strategic advice
For institutional investors, it is important to use organized stock exchanges, because they adhere to strict compliance and security standards. In addition, the application of multi -factor authentication (MFA), using cold storage for majority of assets, and performing regular security audits is necessary. Employee training and a strong accident response plan is also essential.
For retailers, the empowerment of the authentication of the most prominent program is regularly, using strong passwords, and monitoring suspicious activity accounts as well.
In general, survival can help with the latest safety trends and diversify both storage solutions for institutional investors and retail investors to protect their digital assets.
Responsibility: This article is an opinion article. The content may include the author’s personal opinion and subject to market conditions. Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
