According to a recent survey by Kaspersky Lab, more than one-third of Americans who own cryptocurrencies have fallen victim to scams.
The survey, which was conducted between October 20 and 24, 2022, among 2,000 Americans, revealed that many cryptocurrency users fail to take adequate security measures to protect their digital assets.
The study found that a significant proportion of respondents who had ever owned cryptocurrencies had their digital assets stolen through fraudulent websites or organizations.
Shockingly, 19% of those who were scammed had their personal data stolen, while 27% had their payment details compromised.
On average, the amount of stolen funds was a staggering $97,583. The survey also revealed that 36% of respondents aged 25 to 44 own digital assets, while only 10% of those over 55 reported owning cryptocurrencies.
Notably, nearly half of the respondents (47%) in the 18-24 age group reported having their cryptocurrencies stolen, whereas only 8% of people over 55 said the same.
In terms of protecting their funds, the survey found that many respondents reviewed their crypto investments about six weeks ago.
However, a significant number of cryptocurrency holders had lost access to their accounts, while 27% stored their crypto assets on an exchange wallet without additional protection.
Interestingly, only 34% of respondents use multi-factor identification to protect their accounts, while 25% rely on online wallets or browser plugins.
Meanwhile, 15% of respondents prefer desktop wallets, 15% keep their funds in a cold wallet, and 11% use a paper wallet.
To mitigate these risks, Marc Rivero, a senior security researcher at Kaspersky Lab, emphasized the importance of taking additional security measures when investing in cryptocurrencies.
These measures include multi-factor authentication and creating unique passwords. Users must be vigilant to avoid falling prey to scams, malware, phishing, and other threats to cryptocurrency users.