Address Poisoning Scams Impact Thousands of Wallets, Chainalysis Reveals

The post Address Poisoning Scams Impact Thousands of Wallets, Chainalysis Reveals appeared first on Coinpedia Fintech News

In its research, blockchain analytics firm Chainalysis found that an address-poisoning scam is linked with more than 82,000 cryptocurrency wallets. This scam works on several users who interact in the receiving of zero-value transactions or spoofed tokens to distort the history of the intended transaction facilitating an easy process by which the victim copies incorrect wallet addresses. Despite its simplicity, it targets BONE holders across many blockchains such as Ethereum, BNB Smart Chain, and Toncoin. For instance, one of them lost $ 57,000 because of copying the wrong address from the poisoned transaction history. Chainalysis to this date still tracks these scams and the company advises users to always confirm wallet addresses before any transaction.