The MetaMask team has noticed a spike in a new crypto wallet addresses fraud that attempts to profit from user negligence, hence crypto users should be careful.
Digital wallet service MetaMask issued a warning about an “address poisoning scam” in which criminals “poison” users’ transaction history by giving them tokens with no value to their wallets.
The beginning and last characters of the wallet address of their target will be matched by the fraudsters, who will use wallet addresses created by vanity address generators.
Unaware users send their money to the incorrect imitation address as a result of this and get scammed in the process.
According to a tweet from MetaMask, a new fraud known as “Address Poisoning” is becoming more prevalent.
This is how it works: following a legitimate transaction, the scammer sends a $0 token transaction to “poison” the history of previous transactions.
However, while the endeavor is not guaranteed the hackers access to users’ wallets, those who may have developed the tendency of copying their wallet address from the transaction history before transmitting digital asset balances could possibly send their money to replica addresses.
The wallet maker advised users to always exercise caution and to confirm their transactions before transmitting their holdings. The company emphasized that, in order to verify that the funds are transferred to the right wallet, it would be necessary to review each and every character of the wallet address carefully.
In addition, as a precaution, the company advised customers to stop copying wallet addresses from their transaction history and instead utilize their address book when transmitting digital assets.
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