Human Error Trumps Hacking as Leading Crypto Access Loss Risk

A study by Oobit has shed light on a concerning trend in the cryptocurrency market: human error is the primary cause of access loss for over one-third of holders.

According to the study, forgotten passwords or login failures led to losses for 33% of participants, followed by lost seed phrases (21%) and two-factor authentication access (20%). External factors such as platform bankruptcies accounted for 16% of incidents.

The financial impact is significant: over 1 in 10 users reported losing more than $5,000 in a single event. Nearly half of those affected experienced stress or anxiety, while 42% expressed anger at their chosen platform.