- Crypto hacks devastate investors financially.
- Mental health issues surge among victims.
- Recovery proves challenging due to unique circumstances.
The crypto world is facing a crisis. Investors are losing millions to hackers, causing severe psychological distress.
Recent reports show $473.2 million lost to crypto-related hacks in early 2024 alone. The LastPass breach exemplifies this trend, compromising user passwords and seed phrases, leading to significant financial losses for many in the Web3 community.
Victims like Andre Durant and Maria Gilman found themselves suddenly stripped of their digital assets, shattering their financial security and future plans.
Panic attacks and sleepless nights
Many victims experience panic attacks upon discovering their losses. Andre Durant, who lost over $750,000 in bitcoin, describes feeling “devastated” and unable to trust anyone.
The sudden nature of these thefts often leaves investors questioning their entire lives. Professor Rozaina Kamsani explains that such trauma can trigger intense physical reactions, including shortness of breath and full-body shaking.
For many, the aftermath involves a rollercoaster of emotions – shock, anger, frustration, and eventually, a difficult path to acceptance.
Not just about the money
Experts worry that crypto losses hit harder than traditional investment losses. Young investors often lack financial safety nets, making recovery more challenging.
The stigma surrounding crypto investments further compounds the problem, leaving many feeling isolated and misunderstood.
Victims like Maria Gilman face skepticism from friends and family, who struggle to empathize due to the complex nature of digital assets.
The chase to recover stolen funds adds another layer of emotional turmoil, often proving fruitless despite extensive efforts involving multiple agencies across different jurisdictions.
To read the original article: https://www.techinasia.com/losses-hackers-hit-mental-health-web3-investors
