Rich by Coin

Binance Wallet already warns about suspicious addresses. CZ urges industry security alliances to share blacklists and wants wallets to hide low-value spam transactions. In a new post on Binance Square, the Binance founder said that the crypto industry should be able to completely eradicate this type of poison attacks, and protect our users.

He even tweeted the same thing on X. He then moved to stating that action is required on the wallet level. According to the post on Binance Square, address poisoning takes advantage of a common user habit which is copying wallet addresses from transaction history instead of a trusted source. Scammers here play smartly and send very small token amounts from a fake addresses whose starting and ending characters closely match the real one.

When the victim later makes a large transfer, they may accidently copy the attacker’s address and send funds straight to the scammer. In one widely shared case mentioned in Chinese-language posts, a victim apparently lost 50 million USDT in under an hour using a poisoned address.

All wallets should simply check if a receiving address is a ‘poison address’ and then block the user. This is a blockchain query. Wallets and exchanges can check this list before they process any transaction, just how banks and payment companies screen transfers against fraud and sanctions databases. These addresses then can be added to shared blacklists managed by the industry alliance.

However, if all the major companies follow the lead of CZ and Binance, most everyday users would be protected from the current wave of address-poisoning scams. CZ says address poisoning is mainly a technical and coordination issue, and not just a mistake by the users. With Binance Wallet already adding blacklist checks, warning alerts, and spam-transaction filters, he is presenting Binance as an early leader and encourages other wallets to follow the same. CZ believes that if the industry works together and builds these protections into wallets, address-poisoning scam could become rare, proving that safer wallets, not just more careful users, are key to protecting new crypto users.