Japanese Gen Z is the most concerned about crypto scams, particularly on social media, according to a survey of 1,486 respondents conducted by Tokyo-based firm Clabo in February 2026.
The findings show a clear generational divide, with younger users focused on fraud risks while older groups are more concerned about understanding how crypto works.
The top overall concern was lack of understanding at 23.3%, followed by price volatility at 21.1% and fraud risks at 19.2%, highlighting broader trust issues across the market.
Gen Z respondents specifically pointed to frequent exposure to fake giveaways and misleading promotions on social platforms, while older generations cited the complexity of blockchain technology as their main barrier.
Millennials recorded the highest crypto participation rates and were also the most proactive in seeking information before investing.
Across all age groups, 50% of respondents said they had never invested in crypto, while only 33.7% currently hold digital assets and 15.7% have exited the market.
When it comes to information sources, traditional news sites ranked highest at 38.4%, followed by social media at 36.7% and YouTube at 31.6%.
However, YouTube ranked first for actual investment decisions at 27%, underscoring its growing influence on retail investor behaviour in Japan.