FOMO, lax rules are fueling the crypto crime supercycle

Retired DEA agent Bill Callahan tells Cointelegraph that bad actors can make plenty of mistakes and still “make a handsome profit.”

Slow regulations, fear of missing out (FOMO) and growing adoption are powering a crypto crime “supercycle,” according to cybersecurity practitioners. 

Crypto crime losses hit a new record in the first half of 2025, beating the previous record set in 2022 and nearly equal to the total losses from all of 2024.

Speaking to Cointelegraph, Bill Callahan, a retired DEA agent and cryptocurrency investigator, said a lack of regulation combined with hype and FOMO has been playing into criminals’ hands, though he said he wouldn't necessarily call it a crime supercycle.

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