Address Poisoning Scams: How to Protect Your Crypto in a Volatile World
Imagine this: you lose $50 million in a single transaction just because of a copy-paste error. This isn’t just a hypothetical scenario; it’s the painful reality for a crypto user who was caught in an address poisoning scam. Let’s dive into how these scams work, the psychology behind them, and ways you can protect yourself from losing your cryptocurrency amidst all this volatility.
The Mechanics Behind Address Poisoning
What exactly is address poisoning? In simple terms, it’s a scheme designed to exploit the human tendency to act quickly without verifying details. The scam starts when a fraudster keeps a close eye on someone’s wallet activity. After the victim makes a small test transaction, the scammer creates a fake wallet address…
