The battle between crypto wallet providers and malicious actors remains intense, with scams and security measures evolving continuously. Ian Rogers, the chief experience officer at Ledger, emphasizes that as long as individuals continue to share their 24-word seed phrases, scammers will exploit these errors for easy gains. He highlights how simple tactics, such as phishing attempts via social media, can deceive users, with some attackers even hijacking reputable accounts to spread malware. The rise in crypto hacks, which increased by 15% from 2023 to 2024, underscores the persistent threat: victims lost approximately $5.5 billion in the Ethereum network alone due to various scams, including a specific manipulation scheme known as 'pig butchering.' Rogers notes that the cost of scams often correlates with the potential rewards, and this pattern is seen not only in crypto but also in numerous long-established scams.

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