Two Victims Lose Over $62 Million Due to Address Poisoning Attacks

According to Scam Sniffer monitoring, in January, a single victim lost $12.2 million by copying a wrong address from transaction history. Combined with a similar $500,000 attack that occurred in December, the cumulative losses for the two victims exceed $62 million. Address poisoning attacks involve attackers sending small amounts of tokens from visually similar addresses to trick users into copying the wrong address. Furthermore, in January, signature phishing thefts amounted to $6.27 million, a 207% increase month-over-month. Analysis suggests that the Ethereum Fusaka upgrade has reduced transaction costs, leading to an increase in the frequency of such attacks. Coin Metrics data shows that stablecoin-related dust transactions currently account for approximately 11% of Ethereum's daily transaction volume. Whitestream stated that DAI has become the preferred choice for illicit actors to store funds due to the protocol's governance not cooperating with authorities to freeze addresses. (Cointelegraph)