Immunefi CEO Mitchell Amador notes that while on-chain security in cryptocurrency is advancing, human-related vulnerabilities remain the largest risk. In 2025, most crypto security breaches originated from Web2 operational flaws like private key compromises and infected devices, not from on-chain code exploits. Chainalysis reports cryptocurrency losses due to scams and fraud hit $17 billion in 2025, with identity impersonation scams and AI-driven schemes surging substantially.

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