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Phishing scams in the crypto sector are becoming more advanced, with attackers stealing more than $5.2 million from unsuspecting users in April 2025.

According to data from blockchain security firm Scam Sniffer, the losses mark a 17% drop from March’s $6.37 million. However, the number of victims surged by 26%, with 7,565 individuals falling prey to fraudulent schemes last month.

Crypto Phishing Victims Rise Amid Evolving Attack Methods

Scam Sniffer reported that the most damaging incident in April involved a phishing signature scheme, which led to a $1.4 million loss.

In this case, the victim unknowingly approved several fraudulent requests, enabling the attacker to drain their wallet. These scams typically trick users into signing digital approvals that authorize token transfers without their knowledge.

Another notable case involved an address spoofing technique known as address poisoning. An unsuspecting user lost $700,000 after sending funds to a fake wallet address that closely resembled one they had interacted with previously.

Meanwhile, threat actors are evolving tactics beyond traditional phishing websites and are now social engineering their victims across messaging platforms.

Yu Xian, founder of blockchain security firm SlowMist, warned that attackers now target users through Telegram. They use AI-generated voice messages and personalized chats to deceive victims.

In one reported case, Xian noted that a compromised Telegram account was used to send voice clips that imitated a victim’s trusted contacts. The voice messages, likely produced with AI tools, were built from earlier voice logs to mimic tone and speech patterns.

“Don’t trust just one source. When it involves money, always establish another reliable source for verification,” Xian stated.

These developments mirror an earlier case in which an elderly US citizen lost 3,520 BTC, worth over $330 million, to a sophisticated social engineering scam.

Blockchain investigators, including ZachXBT and Binance’s security team, have managed to freeze around $7 million linked to the theft.

CertiK, another blockchain security provider, reported that the Bitcoin theft contributed significantly to the industry’s total losses in April.

According to the firm, the emerging industry lost $364 million to hacks, scams, and exploits during the reporting period. Around $18.2 million of these stolen funds have since been recovered.

These developments underscore the growing sophistication of crypto scams. They also highlight the urgent need for improved user education, wallet security, and anti-phishing tools within the industry.

The post Crypto Phishing Scams Stole $5.2 Million From Over 7000 Users in April appeared first on BeInCrypto.

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Pi Network plunged by double digits over the past week, even as the broader crypto market shows signs of recovery. The altcoin’s market cap dropped to $4.1 billion, as PI continues to see intense selling pressure.

With bearish pressure intensifying, the token could soon revisit its all-time low near $0.40.

PI Risks Deeper Drop

Despite some strength across the broader market, investor sentiment toward PI remains weak, with technical indicators suggesting that its price decline could continue.

The Relative Strength Index (RSI), a key momentum indicator that tracks an asset’s overbought and oversold market conditions, continues to drop, indicating falling demand and growing selling pressure.

At press time, PI’s RSI is in a downtrend at 39.78. This RSI reading indicates weakening momentum and positions the token just above oversold territory, suggesting continued selling pressure could trigger further losses.

Furthermore, Pi Network’s on-balance volume (OBV) has also decreased, pointing to declining accumulation and reduced buyer interest. This indicator is at -1.26 billion at press time, falling by 15% in the past week.

The OBV measures buying and selling pressure by tracking volume flow relative to price movements. When OBV falls like this, more volume is tied to selling than buying. This indicates weakening investor confidence and potential for further price declines.

PI Token Risks Retesting All-Time Low

PI’s plummeting Chaikin Money Flow (CMF) supports the bearish outlook above. At press time, this indicator, which tracks how money flows into and out of an asset, is below the zero line at -0.15.

This negative reading reflects the strength of the sell-side pressure in the PI spot markets. If this trend persists, PI could revisit its all-time low of $0.40.

However, a bullish reversal in the current trend could propel PI’s price to $1.01.

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