Nearly Half of Czechs Plan to Buy Crypto, But Cyber Fears Loom
Jerusalem, 20 April, 2025 (TPS-IL) -- Prague (CTK) – Forty-five percent of Czechs plan to buy cryptocurrencies. More than a quarter, specifically 27 percent, already own them or have owned them in the past. In addition to the complexity and financial risk, they are also afraid of cyber risks, but a third have no idea what these risks should be. This is according to a March survey by the security company Eset among more than 1,000 respondents.
The popularity of cryptocurrencies is also attracting various cyber fraudsters and attackers, according to the company. According to Eset’s latest threat report, the number of investment frauds increased by more than 335 percent between June and November 2024. The Czech Republic also appeared among the countries with the highest number of detections.
“Most often, people want to use cryptocurrencies in everyday life as an alternative to savings, said 30 percent of those surveyed. But they also perceive cyber risks. When asked what their reason is for not purchasing cryptocurrencies, a quarter of them cited excessive financial risk and complexity as well as the fear that they would subsequently be too exposed to cyber fraud and attacks,” said Eset security analyst Ondřej Novotný.
According to Purple Trading analyst Petr Lajsek, the Eset survey once again confirms what has long been known in the cryptocurrency world, namely that investing in cryptocurrencies is not for everyone. “The reason is not only the volatility of prices or the complexity of the technology, but also the significant security threats that still go hand in hand with this market. Even in 2025, cryptocurrencies act like a digital wild west, where opportunity is mixed with danger and where clear rules of the game are missing,” Lajsek noted.
According to data from the Czech Police, crime committed in cyberspace currently accounts for approximately 10.5 percent of the total volume of criminal activity. “Perhaps surprisingly, attacks related to investment appear at the top in terms of quantity – that is, fraudulent offers of advantageous investments, often in cryptocurrencies. We record hundreds of such cases annually, with damages amounting to hundreds of millions of crowns,” added Zuzana Pidrmanová, head of the prevention department of the Police Presidium.
According to security experts, current scams often start on social networks. They can even result in a fake phone call with an attacker, so-called vishing. In addition to investing in cryptocurrencies, scammers can also offer fake services and goods. According to Eset, a number of fraudulent advertisements and newspaper articles can use the names of famous personalities or companies.
“The Czech Republic is considered a cryptocurrency powerhouse and it is only a matter of time before cyber fraudsters will focus more on it. As in other investment sectors, maximum caution applies here, as well as the need to cooperate only with proven traders with secure processes and a secure tool for storing cryptocurrencies,” said Martin Stránský, director of the Bit.plus trader.
