Bitget Wallet has reported a significant surge in crypto phishing risk alerts, with its AI-assisted threat detection system flagging about 37,000 signing requests per week in the third quarter of 2026. This marks a 7.4-fold increase from the 5,000 weekly alerts recorded in the second quarter. Alvin Kan, the chief operating officer of Bitget Wallet, attributed the rise to both heightened threat activity and improved detection capabilities, though the exact contribution of each factor remains unclear.
The wallet provider introduced AI-assisted risk detection in the second quarter, which now examines website code and domain registration details for signs of fraud. It also simulates transactions to identify hidden permissions before users sign. In October, AI helped identify 90% of newly blocked risky domains, up from 36% in the second quarter. Nearly 70% of the domains flagged by the AI had no matching alerts in external threat feeds.
The findings come as crypto users continue to face phishing threats. In July, a trader lost nearly $1 million after signing a malicious Ethereum token approval. An August investigation by Rapid7 uncovered a phishing campaign targeting 885,000 phone numbers, directing recipients to fake crypto wallet provider websites.