Beware of this new type of scam called “address poisoning”

Are you familiar with “address poisoning” or speaker poisoning, a new scam targeting cryptocurrency holders? In this scam, a trickster will rely on users’ lack of attention, which may lead them to unwittingly transfer their cryptos to a scammer’s public address, MetaMask alert on Twitter, Wednesday, January 11, which denounces a thriving scam. To do this, the fraudster will take advantage of the fact that many users copy and paste the address of their wallet, their cryptocurrency wallet – a particularly long sequence of numbers and letters – instead of rewriting it from A to Z when completing a transaction.

It will then “poison” the transaction history of cryptocurrency holders by creating an address similar to that of the cryptocurrency holder – for example, by rendering the first and last 10 characters. According to MetaMask, most people only check the beginning and end of addresses. He will then “send worthless transactions to the target account, from the created address, which is very similar to the one he wants to pollute. This address will end up in the victim’s transaction history. The scammer hopes, as well as the crypto holder, to copy his address for the next transaction, instead of the correct. And if the victim puts in the wrong address, he’s sending money to the scammer, not himself. And since the transactions can’t be changed once they’re confirmed, any lost funds will be unrecoverable.

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How to avoid getting caught? It is advisable to copy an address directly from the application of cryptocurrency wallets such as MetaMask or Frame, or to ensure 100% that it is the correct address, from start to finish, every time the transaction is made.

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