Trader Loses $12.4M in Address Poisoning Scam

The post Trader Loses $12.4M in Address Poisoning Scam appeared first on Coinpedia Fintech News

A crypto trader lost 4,556 ETH (about $12.4 million) after mistakenly copying a poisoned wallet address that looked nearly identical to Galaxy Digital’s legitimate deposit address. Scammers had polluted the victim’s transaction history with tiny dust transfers from a fake address that shared the same first and last characters as the real one. Thinking he was sending funds to Galaxy Digital, the trader pasted the poisoned address and executed a transfer, only for the attacker to sweep almost the entire balance, leaving the wallet with just 6.8 ETH. This incident highlights the risk of relying on transaction history and the importance of always verifying full wallet addresses before sending large amounts.