Crypto Address ‘Poisoning’ Nets Hackers $1.2 Million in Three Weeks

Since the beginning of March, victims of cryptocurrency address spoofing scams have voluntarily sent over $1.2 million to fraudsters. This was reported by analysts from Cyvers.

?Alert?Our AI-powered threat detection system has identified a sharp increase in #addresspoisoning attacks.

Since the beginning of March 2025, over $1.2M has been unknowingly sent to scammer-controlled addresses.

? How does Address Poisoning work?
Attackers send small… pic.twitter.com/yppeJGq6n7

— ? Cyvers Alerts ? (@CyversAlerts) March 19, 2025

“Victims receive small transactions that mimic frequently used wallet addresses. When users copy an address from their transaction history, they may inadvertently send funds to a scammer,” experts explained.

Cyvers CEO Deddy Lavid, in comments to Cointelegraph, pointed to an increase in such incidents. He cited the growing sophistication of fraudsters and the lack of security measures before transactions as primary reasons.

“Unlike traditional fraud detection methods, many wallets and platforms lack real-time pre-transaction checks that could flag suspicious addresses before funds are sent,” he added.

In late February, a user lost over $760,000 in a single transaction due to address ‘poisoning’.

In May 2024, the cryptocurrency exchange Binance introduced a mechanism to combat this type of scam. The algorithm detects fake addresses by first identifying suspicious transfers, such as transactions with near-zero value or low-value tokens.