Cryptocurrency scams on Telegram

Ukrainians are increasingly falling victim to cryptocurrency fraud via Telegram, where criminals deploy high-tech malware. 

Scammers use complex schemes, posing as prominent crypto influencers and creating fake groups for "verification".

According to data from Scam Sniffer, a blockchain security firm, the number of cryptocurrency scams on Telegram involving malware increased by a record 2,000% between November 2024 and January 2025.

Scale of damage

According to a report by Chainalysis, losses from cryptocurrency fraud and hacking attacks amounted to $2.2 billion in 2024, a 24% increase over the previous year. The majority of these losses were incurred by decentralised finance (DeFi) platforms.

Telegram as a new arena for attacks

Telegram has long been a vital tool for crypto investors, but it now poses serious risks. Criminals are quickly adapting, deploying increasingly sophisticated malware for their attacks. They are moving beyond conventional phishing and developing more cunning methods of deception.

Scammers target legitimate cryptocurrency communities. Posing as authoritative members, they send invitations that appear safe. Messages often contain links to "verification processes" that are actually traps.

Complex attack schemes

Criminals employ the following methods:

• Distributing malware through fake verification bots.
• Creating counterfeit trading groups and alpha groups.
• Fake airdrop offers to gain trust.

At first glance, these schemes appear safe, making them more successful than classic phishing attacks involving fake websites.

After completing the fake verification, the victim faces a serious threat: malware is embedded in the clipboard and can lead to the loss of access to crypto wallets and other private data.

Deep level of threat

Specialised software allows scammers not only to steal credentials but also to gain full access to a user's entire cryptocurrency assets.