Just one victim lost $12.2 million in January by copying the wrong address from their transaction history in an ‘address poisoning attack,’ adding to a similar $50 million attack in December. Address poisoning is when attackers send small transactions, or dust, from addresses that look similar to those in the target’s transaction history, hoping the victim will copy the wrong address.
Signature phishing also surged recently, with $6.27 million stolen from 4,741 victims in January, a 207% increase compared to December. Two wallets accounted for 65% of all signature phishing losses. Address poisoning is one of the most consistent ways large amounts of crypto get lost. Dust attacks on Ethereum have surged.
Analysts speculate that the Ethereum Fusaka upgrade in December has contributed to the increase in attacks by making the network cheaper to use in terms of transaction costs. Stablecoin-related dust activity is now estimated to make up 11% of all Ethereum transactions and 26% of active addresses on an average day. The firm analyzed over 227 million balance updates for stablecoin wallets on Ethereum from November 2025 through January 2026, finding that 38% were under a single penny — ‘consistent with millions of wallets receiving tiny poisoning deposits,’. Whitestream reported that the decentralized DAI stablecoin ‘has gained a reputation as a preferred stablecoin for illicit actors, serving as a ‘parking place’ for illegally sourced funds.’
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