The first and last characters of the wallet address of their victim will be matched by the fraudsters, who will use wallet addresses created by vanity address generators.
The MetaMask team has noticed a spike in a new crypto wallet address scam that attempts to benefit from user negligence.
Digital wallet provider MetaMask issued a warning about an “address poisoning scam” in which fraudsters “poison” users’ transaction history by giving them tokens with no value to their wallets.
The first and last characters of the wallet address of their victim will be matched by the scammers, who will use wallet addresses created by vanity address generators. Unaware users send their money to a false copycat address as a result of this.
A new scam called 'Address Poisoning' is on the rise. Here's how it works: after you send a normal transaction, the scammer sends a $0 token txn, 'poisoning' the txn history. (1/3)
— MetaMask Support (@MetaMaskSupport) January 11, 2023
Regardless of whether the attempt will prohibit the hackers from accessing user wallets, those who may have developed the habit of copying their wallet address from the transaction history prior to transferring digital asset balances could potentially send their money to copycat addresses.
The wallet provider advised users to always take precautions and to confirm their transactions before transferring their funds. The company emphasized that, in order to verify that the funds are transferred to the right wallet, it would be essential to carefully review each and every character of the wallet address.
In addition, the company advised customers to send digital assets using their address book rather than copying wallet addresses from their transaction history.
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