INSUBCONTINENT EXCLUSIVE:
Swissquote, the online trading platform behind the crypto-friendly Yuh app, has been ordered by Swiss regulators to reduce the number of
phishing and impersonation attempts targeting its platforms.More than 600 websites impersonating Swissquote platforms or attempting to
defraud users through fraudulent login portals were discovered in the first half of 2025, according to Bloomberg.The Swiss Financial Market
Supervisory Authority (FINMA) cited the Yuh platform, which also features crypto trading, as a major target of fraud campaigns perpetrated
by scammers.Crypto losses in Q3 2025 categorized by the scam vector
Source: CertiKSwissquote CEO Marc Buerki attributed the uptick in fraudulent activity to AI, which makes malicious campaigns easier to
received a response at time of publication.Scams continue to be a problem for the crypto industry, costing users billions of dollars in
collective losses annually and discouraging prospective market participants from holding digital assets.Related: Trezor warns users about
cybersecurity firm CertiK wrote in May.Phishing attacks, social engineering campaigns, fraudulent websites, online impersonation and address
poisoning scams are some of the most common methods employed by threat actors to deceive users and steal funds.An elderly individual was the
target of a $330 million heist in April through a social engineering scam, according to onchain detective ZachXBT
The theft was ranked as the fifth-largest crypto loss in history.Crypto losses resulting from scams and hacks in Q3 2025
Source: CertiKEven seasoned industry veterans are falling prey to sophisticated social engineering scams
In June, crypto venture capitalist Mehdi Farooq, an investment partner at Hypersphere, disclosed that he was the victim of a phishing attack
that drained the majority of his life savings.Magazine: Fake Rabby Wallet scam linked to Dubai crypto CEO and many more victim
