đšđšđłđłA recent report from Scam Sniffer revealed a costly mistake that led a victim to lose $1 million worth of ETH. đłđłđšđš
The error? Copying a fraudulent address from a compromised transfer history. Itâs a reminder that relying on your transaction history as a reference when transferring crypto can lead to significant losses.
Earlier this year, a trader made a similar mistake and lost an eye-watering $68 million worth of wrapped Bitcoin (wBTC) by copying the wrong address from their transfer log. These incidents highlight a growing scam called address poisoning. In this scheme, scammers generate vanity addresses that closely resemble the victim's actual address. They send a tiny transaction to the victim, hoping that one day the user will copy the wrong address out of habit or haste.
The key takeaway? Always double-check the address youâre sending crypto to, no matter how familiar it looks. This simple step can protect your assets from falling into the wrong hands.
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