Security remains one of the biggest challenges facing cryptocurrency payment adoption, with hacks, phishing attacks, and transaction risks continuing to affect user confidence.
A recent survey by Bitget Wallet, conducted as part of its Onchain Report, found that 37% of 4,599 respondents identified security risks as a major barrier to crypto payment adoption. At the same time, 46% said they preferred crypto payments because of their speed, showing that convenience remains a strong reason for using digital assets.
The findings suggest that the challenge is not simply convincing people that crypto payments are useful. Wallet providers also need to make transactions easier to understand and protect users from risks that are less familiar than those associated with traditional payments.
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— Bitget Wallet 🩵 (@BitgetWallet) March 25, 2025
Security remains a major adoption hurdle
The security concern extends beyond large-scale exchange hacks. Users can also lose funds through phishing, malicious approvals, address mistakes, and transaction-manipulation techniques.
One example is address poisoning, in which attackers create addresses that resemble ones previously used by a victim. The victim may then copy the fraudulent address from their transaction history and unknowingly send funds to the attacker.
🚨ALERT🚨Are we mistaken, or has someone truly lost $68M worth of $WBTC? Our system has detected another address falling victim to address poisoning, losing 1155 $WBTC. 😢
Victim: https://t.co/zxkJZlJkcm
Address poisoner: https://t.co/AV0rVE1FhP
Poison transaction: https://t.co/Q9gSn5ClfJ
#CyversAlert
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) May 3, 2024
Bitget Wallet has responded by expanding its transaction-security tools. In March 2025, the wallet expanded its MEV protection across major networks including Ethereum, BNB Chain, Solana, Base, Polygon, and Arbitrum. The feature is designed to reduce risks from front-running and sandwich attacks.
Bitget Wallet subsequently upgraded its Ethereum MEV protection in February 2026 through integration with Flashbots’ MEV-Share system, with the protection enabled by default for eligible swaps.
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Bitget hack puts renewed focus on security
The security concerns have gained renewed attention following a major security incident at Bitget’s centralized exchange in September 2026. Bitget said unauthorized transfers from some of its hot wallets initially affected about $351.6 million in assets, later revising the figure to $387.5 million after additional assets on TRON and Zcash were identified.
Bitget CEO Gracy Chen also addressed the incident on X, providing an update on the exchange’s response and recovery efforts.
The incident reinforces the gap between the convenience of crypto payments and the security expectations required for adoption. While self-custodial wallets such as Bitget Wallet operate differently from centralized exchanges, major security incidents across the Bitget ecosystem can still influence user confidence in crypto as a payment technology.
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