Blockchain analysts are alarming about a new attack vector, where bad actors are poisoning addresses with real cryptocurrencies.
Cyvers analysts have issued a warning about a newly identified phishing scam targeting cryptocurrency users, especially those transacting with Ethereum (ETH). according to Share X On February 15, bad actors began sending real Ethereum to potential victims in an attempt to scam them in what appears to be a new twist on the traditional concept of address poisoning attacks.
This tactic relies on users accidentally copying a fraudulent address, which is similar to the concept of address poisoning. In addition to sending real ETH, scammers may also use fake Tether (USDT) transactions to lure more unsuspecting individuals, alarming Cyvers. Falling prey to this scam entails sending money to a fraudulent address, resulting in financial losses.
Of particular concern is the large scale of this attack. ETH was discovered distributed across hundreds of token addresses, indicating a concerted effort to attack many addresses within the cryptocurrency ecosystem. As of press time, there is at least one victim suffer Losses totaled $47,600 due to this new type of title poisoning.
This warning comes amid a worrying trend known as “address poisoning,” which has recently gained traction in the cryptocurrency market. Address poisoning involves malicious actors manipulating legitimate transactions or creating fake transactions to trick users into sending money to fraudulent addresses.
The emergence of address poisoning was highlighted as a prominent threat in the cryptocurrency space by the developers of MetaMask in January 2023. Since then, the tactic has continued to evolve, posing significant risks to unsuspecting users.
