A victim of a complex fraudulent scheme involving so-called “spam transactions” (address poisoning) lost approximately 2.6 million USDT. According to experts from Cyvers, the user was defrauded of large sums to the same counterfeit address twice in less than three hours.
This is reported by Business • Media
How Address Poisoning Fraud Works
Address poisoning is a type of fraud where criminals create a wallet address that closely resembles one frequently interacted with by the victim. A small transaction with zero value is then sent to this address, causing the counterfeit address to appear in the victim’s transaction history. As a result, the user may accidentally copy and use the fraudulent address, mistakenly sending large sums to it.
“Our system has recorded approximately $2.6 million USDT in losses due to a targeted address poisoning scheme involving zero-value transactions. One victim was repeatedly scammed using the same criminal’s address.”
Incident Details and Industry Response
According to expert analytics, the user initially lost 843,000 USDT and approximately three hours later transferred another 1.75 million USDT to the same counterfeit address. Thus, the total loss amounted to around 2.6 million USDT.
In May 2025, cybersecurity specialists from the Binance cryptocurrency exchange announced the creation of an algorithm that helps identify addresses associated with address poisoning schemes. This allows for quicker responses to such threats and enhances user security in the digital asset space.