Recent data from web3 cybersecurity firm CertiK indicates a significant change in the tactics of cryptocurrency attackers. They have moved away from exploiting smart contract vulnerabilities and are now focusing on social engineering techniques, according to Ronghui Gu, co-founder of CertiK. The shift is causing major losses in the crypto market as attacks rose by 21% in Q4 2023 alone to surpass $2.1 billion in losses by 2025. These losses are primarily attributed to phishing attacks and theft from digital wallets. CertiK emphasizes the urgent need for the industry to invest in more robust security measures, such as enhanced wallet security protocols, access controls, real-time transaction monitoring, and simulated testing, to combat these evolving tactics and mitigate future incidents.