A crypto user reportedly lost nearly $50 million in USDT after falling victim to an advanced on-chain scam known as address poisoning. The incident highlights the rising security risks associated with wallet addresses and on-chain transfers. Address poisoning exploits rely on deceiving users into approving transfers or interacting with compromised addresses.
Security researchers warn that even familiar-looking addresses can be manipulated to misdirect funds. To mitigate such threats, users should verify recipient addresses through trusted channels. Enabling address whitelisting and multi-signature protections can also reduce exposure to similar scams.
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