From Cointelegraph

May 30, 2025 2:34:00 pm:

The MEXC crypto exchange reported a 200% increase in fraudulent trading activity in Q1 2025, with 80,057 fraud attempts from 3,000 syndicates. India, CIS, and Indonesia were the most affected regions. Tracy Jin, COO, attributed the rise to social engineering scams targeting crypto newbies. Education and awareness are crucial to combat scams.

In April 2025, an elderly individual lost $330 million in Bitcoin to a social engineering scam. Binance Security helped freeze $7 million. Coinbase faced a data breach affecting up to 70,000 customers, exposing names, addresses, and phone numbers. TechCrunch founder warned of physical danger to investors. Education on scams is vital.

Read more at Cointelegraph: MEXC detects 200% surge in fraud during Q1