Degen

Recent research highlights that traders are increasingly vulnerable to scams and hacks, often due to a combination of social engineering tactics, inadequate cybersecurity measures, and the proliferation of unregulated platforms. A significant number of incidents involve phishing attacks, fake investment schemes, and malicious trading bots designed to steal funds or personal information. 

Many traders, especially newcomers, fall prey to these threats due to a lack of awareness and education about common fraud tactics. The rise of decentralized finance (DeFi) and peer-to-peer trading platforms, while offering opportunities for high returns, has also made it easier for scammers to exploit gaps in security and regulatory oversight. Consequently, the financial industry has been urged to implement stricter security protocols and consumer protection policies to combat these growing risks.