A sophisticated address poisoning attack diverts 12.3 million ETH

screenshot_gains · 2026-02-09T20:16:48+00:00

A recent NS3.AI report reveals a sophisticated fraud that led to the misappropriation of $12.3 million in Ethereum through address poisoning. Victims were tricked into sending funds to counterfeit addresses. This incident underscores the need for improved security practices in cryptocurrency transactions.

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2026-02-09 20:16:48

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According to recent reports from NS3.AI, an elaborate fraudulent operation led to the theft of $12.3 million in Ethereum. The mechanics of this attack were particularly insidious: the victim intended to make a transfer to a trusted address but was deceived into sending funds to a counterfeit address that perfectly imitated the legitimate one.

This technique, called address poisoning, exploits visual similarities between addresses to mislead users. Cyvers Alerts, a reputable blockchain analysis firm, documented this incident by highlighting how such schemes reveal the persistent vulnerabilities in the cryptocurrency sector. The lack of multi-layer verification in transaction confirmation processes remains a critical factor enabling these scams to succeed.

This event underscores the crucial importance of adopting enhanced security practices, including systematic verification of destination addresses before any substantial transaction and using wallet management solutions that provide additional protection against counterfeit addresses.

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