In March 2025, sophisticated crypto address poisoning scams have resulted in victims willingly sending over $1.2 million to scammers. These scams involve tricking users into sending digital assets to fraudulent addresses that mimic those they commonly use. Typically, attackers send small transactions to targeted victims to confuse them into using the wrong address when copying from transaction history. This troubling trend, highlighted by Cyvers, a blockchain security firm, marked a worrying escalation in phishing attacks, which cost users over $1.8 million in February alone. The CEO of Cyvers attributed the rise in scams to both the increasing sophistication of attackers and the inadequate pre-transaction security measures in many crypto wallets. With many users relying on automated tools without built-in address verification, the vulnerability is pronounced. Furthermore, data indicates that phishing and pig butchering scams are on the rise, with an alarming rate of significant financial loss among victims, notably affecting males aged 30 to 49, who are notably targeted in lengthy manipulative schemes. The urgent need for real-time pre-transaction screening to detect fraudulent addresses is emphasized as a critical measure to mitigate such threats.

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