Two Victims Lose $62 Million To Address Poisoning Since December

Scam Sniffer says two victims lost a combined $62 million to address poisoning since December. One victim copied the wrong address from their transaction history and lost $12.2 million in January, following a similar $50 million incident in December. Address poisoning involves attackers sending small “dust” transactions from addresses that resemble those in a target’s history, hoping the user will copy the wrong address.

Scam Sniffer also flagged a surge in signature phishing: $6.27 million was stolen from 4,741 victims in January, a 207% increase from December, with two wallets accounting for 65% of those losses. Security firm Web3 Antivirus called address poisoning one of the most consistent ways large amounts of crypto are lost, citing tracked incidents ranging from $4 million to $126 million and warning the trend isn’t slowing.

Analysts say the Ethereum Fusaka upgrade in December may have helped fuel the rise by lowering transaction costs.

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