JAN 30, 2024
Wallet Address Poisoning — How to Secure Your Transactions From Hackers
Learn about a real case of an address poisoning attack and how you can protect your crypto portfolio from scammers trying the same hack on you.
Can you identify a poisoned wallet public address?
If not, you are vulnerable to address poisoning attacks like this crypto user who lost $5,000 worth of crypto assets.
It is really simple to avoid an address poisoning attack if you understand this type of attack and what to look for.
Otherwise, ignorance will put your hard-earned crypto assets at risk.
Example Of A Real Address Poisoning Attack
A crypto user wanted to move 5,000 USD worth of cryptocurrency from his Ledger wallet to his Binance wallet.
He copied what he thought was his Binance wallet public address into the Ledger ‘Recipient Address’ field and proceeded with the next steps.
Unfortunately, he had copied a poisoned wallet public address instead, and those 5,000 USD worth of crypto were sent to the hacker.
This is the whole story:
ImThour has kindly agreed to let us share his story so others can learn from it and take steps to prevent it from happening to others. We thank him for his generosity.
We all make mistakes out of a lack of knowledge or awareness.
But never give up; we learn from them and keep moving forward.
Or, we can learn from the mistakes of others who are kind enough to share their experiences, helping us to avoid similar pitfalls.
How Does Address Poisoning Work
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