Address poisoning in crypto is a scam where a Scamers tries to trick a crypto wallet owner into sending funds to the scammer’s address. An address-poisoning scammer looks for wallet addresses that interact regularly with each other. It could be friends or family members sending cryptocurrencies and NFTs to each other. The scammer will use a vanity address generator to create a wallet address that closely resembles your or your friends wallet address.
Crypto wallet addresses can be as long as 42 alphanumeric characters, which makes them difficult to remember. Most crypto wallet users have fallen into the short-cut trap of checking the first and last four characters.
The address-poisoning scammer looks to exploit this habit. The scammer will aim to generate a fake address with the same first and last four characters as the victim’s wallet address.
Now that the fake address is ready, the scammer will send a small amount of crypto or NFTs (or even a $0 token transaction) to the victim’s wallet address.
The victim’s transaction history has now been “poisoned.” The deceitful transaction will appear on the victim’s wallet transaction history.
The scammer hopes you or your Friend will copy-paste the scam address from the transaction history and send funds to the scam address instead of the legitimate one.
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee.See T&Cs.
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