Mitchell Amador, CEO of Immunefi, said in an interview with CoinDesk that most losses stem from Web2 operational failures (such as stolen passwords and social engineering), rather than on-chain code vulnerabilities. According to Chainalysis data, about $17 billion in cryptocurrency was lost to fraud and scams in 2025, with impersonation scams increasing by 1,400% year-over-year, and AI-assisted scams generating 450% more profit than traditional methods. As code becomes harder to exploit, attackers are shifting their focus to humans, and over 90% of projects still have critical vulnerabilities.
Immunefi CEO: Majority of Stolen Losses Stem from Web2 Operational Failures
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Summary
Immunefi CEO Mitchell Amador told CoinDesk that most stolen funds come from Web2 operational flaws, not on-chain code issues. Chainalysis data shows $17 billion in crypto lost to fraud in 2025, with impersonation fraud up 1400%. AI-driven scams are 450% more profitable. As code becomes more secure, attackers target humans. Over 90% of projects still have critical flaws. On-chain news highlights the need for better security. Inflation data remains a secondary concern in this context.
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