User Loses Over $760,000 Due to Address ‘Poisoning’

A user inadvertently sent a large sum to a scammer’s wallet due to transaction history ‘poisoning’. Analysts at Scam Sniffer highlighted the incident.

?? A victim lost $763,662 due to transaction history poisoning — copied an address matching first 4 + last 6 chars of the real address. pic.twitter.com/i6KUl6la6a

— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) February 26, 2025

The incident occurred on February 20. The victim copied an address that only matched the first four and last six characters of the legitimate one.

As a result of the transfer, the user lost $763,662.

‘Poisoning’ scams occur when a fraudster sends a small amount of digital assets from a wallet with a similar address to confuse the victim and trick them into using incorrect details.

Back in June 2024, hackers from Pink Drainer fell victim to address ‘poisoning’.

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