The post Ethereum Foundation Urges Full Address Display After $50M Phishing appeared on BitcoinEthereumNews.com. Key Points: Ethereum Foundation advises againstThe post Ethereum Foundation Urges Full Address Display After $50M Phishing appeared on BitcoinEthereumNews.com. Key Points: Ethereum Foundation advises against

Ethereum Foundation Urges Full Address Display After $50M Phishing

Key Points:
  • Ethereum Foundation advises against address truncation post $50M phishing incident.
  • Phisher exploited address similarity, moving funds rapidly.
  • Community reactions prompt calls for improved security measures.

In a concerning incident on December 21st, a phisher exploited truncated Ethereum addresses, stealing 50 million USDT and converting the proceeds into 16,624 ETH through Tornado Cash.

The attack highlights addressing vulnerabilities in wallets, prompting the Ethereum Community Foundation to urge full address displays to prevent similar security risks.

Ethereum Foundation Addresses $50 Million Phishing Losses

Ethereum Community Foundation’s advisory emerged in response to a $50 million USDT phishing attack, urging industry participants to avoid ellipsis in addresses to prevent risks. The attacker exploited a similar-looking address to mislead the transaction.

Victim’s on-chain data revealed the phisher sent 0.005 USDT as a decoy before draining the full amount. Quick asset conversion to DAI and purchase of 16,624 ETH enabled laundering through Tornado Cash.

F2Pool Co-founder Wang Chun commented on verification practices in light of the attack:

Community emphasized the need for full transparency to avoid repeating similar incidents.

Surge in Phishing Reflects Vulnerability, Calls for Security

Did you know? In November 2025, phishing attacks surged with $7.77 million drained from 6,344 victims, marking a 137% increase over October, highlighting the ongoing risk in cryptocurrency.

Based on latest data from CoinMarketCap, Tether’s {Symbol} market cap stands at $186.76 billion, with a trading volume of $51.1 billion, marking a 30.27% decline over 24 hours. The current price remains at $1.00.

Tether USDt(USDT), daily chart, screenshot on CoinMarketCap at 13:13 UTC on December 21, 2025. Source: CoinMarketCap

Insights from Coincu research team suggest that enhancing UI security features could reduce similar threats. Historical trends highlight pattern exploitation by attackers, pressing for innovative solutions against phishing tactics.

Source: https://coincu.com/scam-alert/ethereum-foundation-address-display-phishing/

Market Opportunity
Prompt Logo
Prompt Price(PROMPT)
$0.04892
$0.04892$0.04892
-0.64%
USD
Prompt (PROMPT) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny

The post Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny appeared on BitcoinEthereumNews.com. The cryptocurrency world is buzzing with a recent controversy surrounding a bold OpenVPP partnership claim. This week, OpenVPP (OVPP) announced what it presented as a significant collaboration with the U.S. government in the innovative field of energy tokenization. However, this claim quickly drew the sharp eye of on-chain analyst ZachXBT, who highlighted a swift and official rebuttal that has sent ripples through the digital asset community. What Sparked the OpenVPP Partnership Claim Controversy? The core of the issue revolves around OpenVPP’s assertion of a U.S. government partnership. This kind of collaboration would typically be a monumental endorsement for any private cryptocurrency project, especially given the current regulatory climate. Such a partnership could signify a new era of mainstream adoption and legitimacy for energy tokenization initiatives. OpenVPP initially claimed cooperation with the U.S. government. This alleged partnership was said to be in the domain of energy tokenization. The announcement generated considerable interest and discussion online. ZachXBT, known for his diligent on-chain investigations, was quick to flag the development. He brought attention to the fact that U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce had directly addressed the OpenVPP partnership claim. Her response, delivered within hours, was unequivocal and starkly contradicted OpenVPP’s narrative. How Did Regulatory Authorities Respond to the OpenVPP Partnership Claim? Commissioner Hester Peirce’s statement was a crucial turning point in this unfolding story. She clearly stated that the SEC, as an agency, does not engage in partnerships with private cryptocurrency projects. This response effectively dismantled the credibility of OpenVPP’s initial announcement regarding their supposed government collaboration. Peirce’s swift clarification underscores a fundamental principle of regulatory bodies: maintaining impartiality and avoiding endorsements of private entities. Her statement serves as a vital reminder to the crypto community about the official stance of government agencies concerning private ventures. Moreover, ZachXBT’s analysis…
Share
BitcoinEthereumNews2025/09/18 02:13
Coinbase Joins Ethereum Foundation to Back Open Intents Framework

Coinbase Joins Ethereum Foundation to Back Open Intents Framework

Coinbase Payments has joined the Open Intents Framework as a core contributor, working alongside Ethereum Foundation and other major players. The initiative aims to simplify complex multi-chain interactions through automated solver technology. The post Coinbase Joins Ethereum Foundation to Back Open Intents Framework appeared first on Coinspeaker.
Share
Coinspeaker2025/09/18 02:43
Unleashing A New Era Of Seller Empowerment

Unleashing A New Era Of Seller Empowerment

The post Unleashing A New Era Of Seller Empowerment appeared on BitcoinEthereumNews.com. Amazon AI Agent: Unleashing A New Era Of Seller Empowerment Skip to content Home AI News Amazon AI Agent: Unleashing a New Era of Seller Empowerment Source: https://bitcoinworld.co.in/amazon-ai-seller-tools/
Share
BitcoinEthereumNews2025/09/18 00:10