Address poisoning attacks are becoming an increasing threat in the cryptocurrency world. These attacks exploit the way users manage their transaction histories and address information.
Hackers monitor the transfer information of various stablecoins on the blockchain, then create a malicious address that closely mimics the user’s address by having the same first and last digits.
The hacker sends an empty transaction to the victim, making the fake address appear in the victim’s transaction history.
⚠️🚨 Address Poisoning Attack is a Rising Threat in the Crypto World 🚨
Address Poisoning Attack has been here for quite some time but has been wreaking havoc in recent weeks, with over 340K addresses affected and more than $1.64M stolen. 😱💸
(1/5) pic.twitter.com/xQDsv083iN
— BrotherHood (@BHVenture) July 21, 2023
When the victim later copies an address from their history for a transfer, they may accidentally copy the hacker’s address instead of their intended recipient’s. This simple yet dangerous trick can lead to substantial financial losses.
Wallet Loses Over 70,000 USDT To Scam
Recently, Cyver Alerts, an AI-powered security system, detected an address poisoning attack. Two days ago, the attacker initiated the poison transaction.
Unfortunately, 23 hours ago, the victim mistakenly sent 70,000 USDT to the scammer’s address. The funds are currently held in the scammer’s account, highlighting the effectiveness and danger of this deceptive tactic.
🚨ALERT🚨Our AI-powered system has detected an address poisoning attack. https://t.co/P9B1inEQ9N
The attacker initiated the poison transaction two days ago: https://t.co/VEQrT4VXYL
Unfortunately, 23 hours ago, the victim mistakenly sent 70k USDT to the scammer.
The funds are… pic.twitter.com/Klq9KUSlTo— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) June 28, 2024
As the crypto space evolves, so do the methods employed by cybercriminals. It’s crucial for users to double-check addresses and remain vigilant to protect their assets from such sophisticated attacks.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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