Jan 14, 2023

Cryptocurrency users are becoming victim of address poisoning attacks

Posted by in category: cryptocurrencies

Scammers may commit address poisoning by sending meaningless transactions to your account from an wallet address that is very similar to the one you use.

In case you were unaware of this fact beforehand, your wallet consists of one or more accounts, each of which has its own unique address that was created cryptographically. These are lengthy hexadecimal numbers, which means that they include both numerical and (a few) alphabetical characters. This is because hexadecimal numbers employ both sets of characters. Because of this characteristic, they are incomprehensible to the vast majority of individuals and, more importantly, very difficult to recall.

Because of this, the vast majority of web3 software enables you to copy and paste addresses, rather of having to commit them to memory and type them out. As a result, you have probably grown to depend on this feature. This not only helps you save a lot of time, but it also eliminates the possibility of making any errors and guarantees that your money will be sent to the correct address at all times. You may copy your address with a single click or touch, which is one way in which it helps simplify the copy-and-paste process.

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