Address poisoning, a sophisticated crypto scam, is increasingly targeting users by creating look-alike wallet addresses to mislead them into sending funds to fraudulent destinations. This scam exploits the irreversible nature of blockchain transactions, resulting in permanent loss of funds once sent to a poisoned address. Attackers generate near-identical addresses and send small amounts to victims, causing these fake addresses to appear in transaction histories. This tactic often deceives users into selecting the wrong address when copying and pasting for future transactions.
Experienced traders with large, active wallets are common targets, with real-world cases on Ethereum and Solana leading to multi-million-dollar losses. To mitigate risks, users are advised to test large transfers with small amounts, remove unknown micro-transactions from their history, and use tools to detect poisoning attempts. Wallet developers can enhance security by improving address visibility and flagging suspicious zero-value transfers.
Address Poisoning Scams Threaten Crypto Wallet Security
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