The Ethereum network is experiencing a notable uptick in activity, but security experts are sounding alarms over potential underlying threats. According to the authors of the publication, it is concerning that this surge may be linked to address poisoning campaigns rather than genuine user interest.
Increase in Malicious Activity on Ethereum Network
According to Sergeenkov, the recent increase in activity coincides with a significant drop in transaction fees since December, making it easier for malicious actors to exploit the network. Reports indicate that over $740,000 has been stolen from 116 victims through these address poisoning schemes, highlighting the financial risks involved.
Surge in New Addresses Raises Concerns
The week beginning January 12 saw a staggering addition of 27 million new addresses on the Ethereum network, prompting skepticism about the legitimacy of this influx. While some metrics may seem impressive at first glance, they could also reflect a rise in spam and other malicious activities, complicating the assessment of true user engagement on the platform. As the situation develops, experts urge caution and further investigation into the nature of this activity.
The recent Ethereum Pectra upgrade has significantly reduced transaction costs, but it has also raised concerns about new security threats, particularly address poisoning campaigns. For more details, see read more.
