Elliptic believes that Telegram and the $USDT stablecoin issued by Tether have become key infrastructure components of global online fraud networks. According to the company, total losses from such schemes are expected to reach $442 billion by 2025.

The decentralized exchange Drift Protocol presented a detailed recovery plan for users following the massive April 1, 2026 hack, during which approximately $295 million was lost. According to cybersecurity firm Mandiant, the attack was organized by cybercriminals linked to North Korea.

As cryptocurrency fraud continues to rise, some of the world’s leading institutions have joined forces. In this context, the United States, the United Arab Emirates, and China jointly carried out an operation to dismantle cryptocurrency fraud activities across nine centers.

Researchers noted that DeFi is facing a “persistent security crisis.” In January, the sector lost about $86 million due to smart contract bugs. February saw around $27 million in losses from bridge and oracle attacks. In March, another $52 million was lost due to exploits tied to stablecoin issuance and lending pools.

According to the latest cybercrime report, the Federal Bureau of Investigation identified an increase in losses from cryptocurrency fraud. The Internet Crime Complaint Center recorded $11.366 billion in thefts in 2025. This figure exceeds the previous year’s data by 22%.

Hackers stole $280 million from the unregulated crypto exchange Drift — the largest perpetual futures exchange on the Solana blockchain. The company reported this via its official X account. The incident occurred on April 1, and the company explicitly clarified that the announcement about freezing funds was not an April Fool’s joke.