BEWARE! Scammers Now Target Victims With Real Crypto In New Address Poisoning Attack
Latest News News

BEWARE! Scammers Now Target Victims With Real Crypto In New Address Poisoning Attack

  • Blockchain analysts warn about a novel address poisoning attack vector, where scammers send real crypto to victims to deceive them.

Cyvers’ analysts have issued a warning about a newly identified phishing scam targeting crypto users, particularly those dealing with Ethereum (ETH). 

According to an X post on Feb. 15, bad actors have started sending out real ETH to potential victims in a bid to deceive them in what appears to be a new turn of evolution in the traditional concept of address poisoning attacks.

The tactic relies on users accidentally copying a scam address, akin to the concept of address poisoning. 

In addition to sending real ETH, the scammers may also employ fake Tether (USDT) transactions to further lure unsuspecting individuals, Cyvers alarms. 

See Also: Spanish Telecom Giant Telefonica Partners With Chainlink To Utilize Web3 Technology For Fraud Prevention In SIM Cards

Falling prey to this scam entails sending funds to a fraudulent address, resulting in financial losses.

Of particular concern is the extensive reach of this attack. 

The distributed ETH has been detected across hundreds of distinct addresses, indicating a concerted effort to attack numerous addresses within the crypto ecosystem. 

As of press time, at least one victim has suffered losses totaling $47,600 due to this novel variant of address poisoning.

The warning comes amid a concerning trend known as address poisoning, which has recently gained traction in the cryptocurrency market. 

Address poisoning involves malicious actors manipulating legitimate transactions or generating fake transactions to deceive users into sending funds to fraudulent addresses.

See Also: GoFundMe Canceled Tornado Cash Legal Defense Crowdfunding

The emergence of address poisoning as a prominent threat in the crypto space was highlighted by MetaMask developers in January 2023. 

Since then, the tactic has continued to evolve, posing significant risks to unsuspecting users.

Disclaimer: The information provided is not trading nor financial advice. holds no liability for any trading or investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any trading or investment decisions.

#Binance #WRITE2EARN


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.