An Ethereum user fell victim to an address poisoning scam on Sunday, resulting in the loss of nearly $700,000 worth of the USDT stablecoin.
Experts warn this rising form of scam is easy to fall victim to if users aren’t militant in fully checking the address that they’re sending funds to.
What is address poisoning?
For address poisoning to work, malicious actors create an address that looks strikingly similar to an address that the victim has interacted with recently. The attacker will then send a small amount of tokens to the victim, with the goal of deceiving them into thinking the attacker’s address is the one they just interacted with.
“Let’s say your deposit address is 0x11223344556677889900. On your wallet it will look like:…
Apr 26 2025
