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What Is Address Poisoning?
Address poisoning is a scam where attackers send tiny transactions to users with a wallet address that looks similar to a real one. Their goal? Trick users into copying and pasting the wrong address in future transactions, sending funds straight to the scammer instead.
How Does It Work?
Attackers monitor blockchain activity and identify wallets making frequent transactions. Then, they create a similar-looking wallet address and send a small transaction. When the real wallet owner copies an address from their transaction history, they might accidentally select the fake one. If they do, their funds go directly to the scammer.
Recent Scams and Losses
Crypto users have lost millions due to address poisoning. In one case, a victim unknowingly sent $71 million in Wrapped Bitcoin to a bait wallet. The scammer later returned the funds, but most victims aren’t that lucky.
How to Stay Safe
- Always double-check wallet addresses before sending crypto.
- Don’t copy and paste from transaction history—manually verify addresses.
- Use address whitelisting on exchanges and wallets.
- Enable security features like two-factor authentication (2FA).
Crypto scams are getting more sophisticated, but a little caution can save you from major losses.
