New address poisoning attack exploits genuine cryptocurrency to victimize individuals
Blockchain analysts have raised an alarm regarding a new method of attack, in which malicious individuals are contaminating cryptocurrency addresses with real digital currency. The analysts have issued a warning about a recently discovered phishing scam that specifically targets Ethereum (ETH) users. According to a recent post, bad actors have started sending actual ETH to potential victims in an attempt to deceive them. This marks a new evolution in the traditional concept of address poisoning attacks.
The tactic relies on users accidentally copying a scam address, similar to the idea of address poisoning. In addition to sending real ETH, the scammers may also utilize fake Tether (USDT) transactions to further entice unsuspecting individuals. Falling victim to this scam means sending funds to a fraudulent address, resulting in financial losses.
The extensive reach of this attack is particularly concerning. The distributed ETH has been detected across hundreds of different addresses, indicating a concerted effort to attack numerous addresses within the crypto community. As of now, at least one victim has suffered losses of $47,600 due to this new variant of address poisoning.
This warning comes amidst a worrying trend known as address poisoning, which has gained traction in the cryptocurrency market. Address poisoning involves malicious actors manipulating legitimate transactions or creating fake transactions to trick users into sending funds to fraudulent addresses.
The prominence of address poisoning as a significant threat in the crypto space was emphasized by MetaMask developers in January 2023. Since then, this tactic has continued to evolve, posing significant risks to unsuspecting users.
