In March 2025, the damage from address poisoning attacks in the crypto sector exceeded $1.2 million. The attacks are carried out by sending small transactions from addresses similar to trusted ones.
Rise of Address Poisoning Attacks
Address poisoning attacks brought over $1.2 million in losses in March 2025. Attackers send small transactions to addresses resembling trusted ones, causing accidental transfers. According to Cyvers, such attacks are possible due to inadequate crypto wallets and platform security.
Lack of Pre-Transaction Security Measures
The absence of real-time transaction verification allows scammers to execute their schemes. Current crypto transaction systems lack built-in functionality to prevent transfers to poisoned addresses. Cyvers CEO Deddy Lavid observes that automated crypto tools lack the necessary verification functions, leaving users vulnerable.
Threat of Phishing Attacks in Cryptocurrency
The cryptocurrency sector faces a rising number of phishing attacks, including address poisoning. Data shows phishing attacks resulted in $1 billion losses across 296 incidents in 2024. Security experts advise double-checking addresses before transactions and using AI security tools and whitelists for vetted addresses.
The rise in address poisoning attacks highlights the urgent need for enhanced security measures in the crypto sphere. Users need to exercise caution and leverage advanced protection technologies to minimize risks.
