A new data reveals that cryptocurrency holders lost over $43.6 million to scams on gaming and metaverse platforms in 2022. The report by Smart Betting Guide and the REKT database found that crypto users lost $1.7 billion to various exploits and exit scams last year.
The analysis shows that certain blockchains were more vulnerable. Binance users lost $1.5 million, while Arbitrum users lost $552,652. The scams likely included phishing attempts, fake crypto exchanges in the metaverse, fraudulent NFT projects, and hacking of gaming platforms.
Gaming companies that accept crypto payments, such as GameStop, Microsoft, and Best Buy, may be targets. In 2023, Stablecoins saw the lowest losses at $8 million, 95% below average.
The report also found that February is one of the worst months for crypto scams, ranking third with average losses of $623 million. December sees the highest average yearly losses at $821 million, followed by January at $662 million. Users should be vigilant when making metaverse and gaming transactions by researching platforms and reporting suspicious listings.
Also Read: Crypto Scams Surge in Russia: Investor Caution Grows
