Cyvers released its "Web3 Security & Fraud Report 2025," which includes five new findings on attack and defense.

Cyvers released its "2025 Web3 Security & Fraud Report," revealing the true state of hacking, fraud, and emerging threat patterns, covering the following key findings: 1. Crypto Fraud Industrialization: Cyvers identified 18,815 active global fraud networks, no longer just lone "hackers." 2. Authorization Fraud Now Far Exceeds Traditional Exploitation: Traditional hacking caused $2.5 billion in losses, while fraud resulted in $16 billion. 3. Smart Contract Vulnerabilities Are Not the Primary Cause: In 2025, 88% of losses stemmed from access control failures, including key leaks, permission settings issues, and human error. 4. The Methods of the Largest Crypto Theft in History Are Changing: The supply chain vulnerabilities and legitimate signatures in the Bybit incident, while seemingly normal at first glance, will become commonplace in the future. 5. Over 140 Exchanges Affected: A significant portion of customers on major exchanges have experienced at least one instance of fraud.