Address poisoning is the latest scam emerging in the crypto verse, and it's crucial to understand how it works to protect your digital assets. Address poisoning is a deceptive tactic used by scammers in the crypto world, involving the manipulation of transaction histories in your crypto wallet to trick you into sending funds to the wrong address. A new scam called 'Address Poisoning' is on the rise. Here's how it works: after you make a legitimate transaction, scammers create imitation addresses that closely resemble yours in your transaction history.

Jameson Lopp warned that scammers are using “address poisoning” to trick Bitcoin users into sending funds to fake addresses. Lopp found over 48,000 address poisoning incidents. Unaware users send their crypto to the wrong imitation address as a result of this subtle yet devastating technique. Victims of address poisoning scams were tricked into willingly sending over $1.2 million worth of funds to scammers, showcasing the problematic rise of cryptocurrency-related fraud.

Over 630 wallet addresses fell victim to address poisoning, resulting in a loss of 933,365 ARB tokens. The attacker exploited a malicious ARB token contract and paired it with the address poisoning technique to amplify the damage.

Stay vigilant and always double-check the recipient's address before confirming any crypto transaction. Learning about these scams is the first step to preventing them.