Swissquote, the web buying and selling platform behind the crypto-friendly Yuh app, has been ordered by Swiss regulators to cut back the variety of phishing and impersonation makes an attempt focusing on its platforms.
Greater than 600 web sites impersonating Swissquote platforms or making an attempt to defraud customers by fraudulent login portals had been found within the first half of 2025, in keeping with Bloomberg.
The Swiss Monetary Market Supervisory Authority (FINMA) cited the Yuh platform, which additionally options crypto buying and selling, as a serious goal of fraud campaigns perpetrated by scammers.
Swissquote CEO Marc Buerki attributed the uptick in fraudulent exercise to AI, which makes malicious campaigns easier to launch. The CEO additionally mentioned that no inside programs had been compromised by the pretend web sites.
Cointelegraph reached out to the corporate however hadn’t obtained a response at time of publication.
Scams proceed to be an issue for the crypto trade, costing customers billions of dollars in collective losses yearly and discouraging potential market individuals from holding digital belongings.
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“To this point in 2025, onchain incidents have led to [around] $2.1 billion in losses. Nearly all of losses have come from pockets compromises and phishing, with a rise in knowledge leaks it is vital to stay vigilant,” cybersecurity agency CertiK wrote in Might.
Phishing attacks, social engineering campaigns, fraudulent web sites, on-line impersonation and address poisoning scams are a few of the most typical strategies employed by menace actors to deceive customers and steal funds.
An aged particular person was the target of a $330 million heist in April by a social engineering rip-off, according to onchain detective ZachXBT. The theft was ranked because the fifth-largest crypto loss in historical past.
Even seasoned trade veterans are falling prey to stylish social engineering scams. In June, crypto enterprise capitalist Mehdi Farooq, an funding associate at Hypersphere, disclosed that he was the victim of a phishing attack that drained nearly all of his life financial savings.
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