Charles Hoskinson, a prominent figure in the crypto community, stated that address poisoning fraud is less likely to occur on Bitcoin and Cardano. He attributed this to the UTXO-based blockchain model these networks use, which avoids the reuse of endpoints, unlike Ethereum's account-based system.
Hoskinson's comments come in the wake of a $50 million USDT theft, which underscored the vulnerabilities in systems where users frequently copy addresses from transaction histories, increasing the risk of fraud. He emphasized that address reuse is a significant factor in such attacks, highlighting the importance of different blockchain design models to enhance security.
Charles Hoskinson Highlights Lower Fraud Risk on Bitcoin and Cardano
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