Sumsub: African Crypto Market Matures, Fraud Rate Drops 28%

According to Sumsub's fourth annual 'State of the Crypto Industry Report'*. Globally, 74% of crypto providers now prioritize verification accuracy over registration speed (39%), marking a shift away from the 'growth at all costs' model that defined the industry's early expansion phase. The report states the industry is entering a phase of 'regulatory maturity,' with compliance, fraud prevention, and user experience increasingly integrated into core product design rather than being viewed as separate operational layers. While fraud remains a global challenge, the report indicates that fraud patterns in the African market are evolving as cryptocurrency adoption accelerates. Across the continent, the average fraud rate increased from 1.7% in 2023 to 3.6% in 2024, before declining to 2.6% in 2025, a year-on-year decrease of 28%.