In response to the 50 million USDT phishing incident, the Ethereum Community Foundation posted on X that truncating addresses with dots (such as 0xbaf4b1aF…B6495F8b5) should stop immediately. Address information needs to be displayed in full, as hiding the middle part of an address introduces unnecessary risks. Some UI options currently offered by certain wallets and block explorers also present security issues, though these can be resolved. It is reported that the phisher previously generated an address with the same first and last three characters.
The victim did not carefully check the copied address. They transferred 50 million USDT to the similar address generated by the phisher.
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