Sumsub: African cryptocurrency markets are maturing and fraud rates drop by 28%

According to Sumsub's fourth annual "Cryptocurrency Industry Status Report"*. Globally, 74% of cryptocurrency providers now prioritize verification accuracy over registration speed (39%), marking a shift from the industry's "growth at all costs" model defined during its early expansion period. The industry is entering a stage of "regulatory maturity", with compliance, fraud prevention and user experience increasingly integrated into core product design rather than being seen as a separate operational layer, the report said. Although fraud remains a global challenge, the report shows that fraud patterns in African markets are changing as the popularity of cryptocurrencies accelerates. Across the African continent, the average fraud rate rose from 1.7% in 2023 to 3.6% in 2024, and then fell to 2.6% in 2025, a year-on-year decrease of 28%.