Solana co-founder Anatoly Yakovenko has warned that phishing and social engineering now represent the biggest security threat facing cryptocurrency users, overtaking fears about artificial intelligence breaking cryptography or quantum computing attacks.
In a post on X on November 3, 2026, Yakovenko argued that attackers are more likely to exploit human behavior than attempt to break cryptographic systems. He recommended a low-cost, high-return security setup combining a dedicated iOS device running Apple’s Lockdown Mode with a multisignature wallet.
Apple’s Lockdown Mode restricts certain applications, website technologies, message attachments, and device functions to reduce exposure to malicious links and unauthorized approvals. A multisignature wallet adds another layer of protection by requiring multiple approvals before transactions execute, such as a two-of-three signing configuration, making it harder for an attacker to drain funds after compromising a single device or credential.
Yakovenko’s warning follows sharp losses from personal wallet theft. Chainalysis recorded $713 million in personal cryptocurrency wallet theft during 2025, affecting at least 80,000 victims, with Solana accounting for approximately 26,500 victims, the highest absolute number in the analysis.
Recent incidents highlight the human element. Binance disclosed an attack involving fake recruitment interviews, compromised developer software, and stolen credentials that exposed parts of its wallet signing infrastructure. Attackers manipulated an engineer into downloading a malicious development repository, demonstrating how professional-looking interactions can become entry points into critical systems.
