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As the holiday season starts and people are busy shopping and enjoying themselves, scammers are getting busy as well. Experts warn the crypto community that December is a prime time for crypto attacks. With people distracted in festivals, crypto scammers have perfect setup to exploit their wallets. What is really going on, lets understand.
Why the Holidays Are a Scammer’s Playground
December isn’t just about gifts and good vibes—it’s a scammer’s favorite month. Why? Because we’re all distracted. Clicking on emails without thinking, trusting holiday deals that feel urgent, or donating to what seems like a good cause—this is where they get us.
Last month alone, scammers stole $9.3 million from over 9,200 investors. And while that’s less than October’s massive $20.2 million loss, it’s still mind-blowing. One poor guy even lost $661,000 in stETH just from one malicious blockchain transaction. That’s the crazy part—these aren’t obvious scams. They come disguised as harmless links or signature requests, and bam—your wallet’s drained.
Can You Outsmart These Scammers?
Look, even experienced investors slip up during this time. But there are ways to stay ahead of these crooks: Double-check everything. Don’t just trust an email or message because it looks legit. Scammers are pros at mimicking official communications.
Set up 2FA. Seriously, it’s not just a suggestion—it’s a lifesaver. And avoid using public WiFi for transactions. That free airport WiFi? A trap.
Simulate transactions first. Before signing anything, use tools to preview what you’re actually approving. If something looks shady, don’t proceed.
Beware of “too-good-to-be-true” offers. Holiday-themed scams, fake giveaways, or crazy discounts are red flags. Trust your gut.
At the end of the day, scammers count on us being distracted or greedy. Stay sharp—it’s your best weapon.
The Bigger Picture
This year alone, crypto theft has hit $1.48 billion as of late November. That’s down 15% from last year, but still, it’s a huge number. Scams and hacks have been part of the crypto world for years—since 2010, over $19 billion has been stolen across 785 incidents.
And it’s not just phishing. There’s pump-and-dump schemes, fake wallets, romance scams (yes, seriously), and even blackmail threats. The Thala protocol hack last month? Scammers walked away with $25.5 million—though thankfully, the funds were recovered.
These criminals know how to exploit human nature—whether it’s greed, trust, or a lack of awareness. And the holidays are their favorite time to strike as people put down their guards.
What To Do?
Scams are not going away no matter how well regulations are set up. It is the duty of the investors to safeguard their funds. As new people enter the crypto market due to bull run, the risk grows. Only you can protect yourself. Under no circumstances share your seed phrase or click on unknown links. Nobody is going to give you crypto for free, be aware of the fake giveaways or airdrops.
Enjoy the holidays but stay vigilant of what you are doing with your crypto wallet. Always stay alert because if you are not, your crypto holdings are at risk.