Crypto fraud losses reached $370 million in January, a near 11-month high.

Uniswap founder Hayden Adams warned that fake Uniswap search engine ads continue to appear, and some users have already lost all their high-value crypto assets as a result. Scammers purchase keyword ads such as "Uniswap" to feature fake websites prominently at the top of search results. The websites are highly similar in design to the official ones, and once a user connects their wallet and authorizes a transaction, their funds are immediately transferred. This type of attack relies on user signature authorization, not protocol-level vulnerabilities. An X platform user, "Ika," stated that after clicking on a fake link in a search result, she lost hundreds of thousands of dollars worth of crypto wallet assets. Screenshots she shared show the fake link prominently displayed at the top of the search results, making it highly deceptive. A similar incident occurred in October 2024, where scammers copied the Uniswap website interface and subtly modified buttons to trick users into connecting their wallets. Data from security firm CertiK shows that in January 2026, the crypto industry lost approximately $370.3 million due to exploits and scams, a new high in nearly 11 months and almost four times the amount lost in January 2025. A single social engineering attack resulted in losses of approximately $284 million. A total of 40 related security incidents were recorded in January. Analysis indicates that current crypto asset losses stem more from user-level risks such as phishing links, fake advertisements, and social engineering attacks, rather than underlying smart contract vulnerabilities. With the expansion of the DeFi ecosystem, brand imitation and interface fraud are becoming significant threats to user trust.