The Economics of Attention in Crypto: How Pay-to-Message Systems Are Fighting a $5.6 Billion Problem
The problem isn’t just money—it’s attention. Crypto users can’t tell real messages from scams. Traditional platforms like WhatsApp and Telegram weren’t built for the crypto world. They can’t verify who really owns a wallet address, making them perfect hunting grounds for scammers.
The cryptocurrency world faces a massive communication crisis. In 2023 alone, crypto fraud cost victims over $5.6 billion according to FBI estimates. This represents nearly half of all reported fraud losses and marks a 45% increase from 2022.
Now, a new wave of platforms is fighting back with an old economic principle: make people pay for attention.
The $300 Million Messaging Problem
Phishing scams alone cost crypto users $300 million in 2023. Scammers use…
