Czechoslovakia urges users to be protected from fraudulent wallets after US$50 million stolen

cropped Screenshot 2025 04 30 at 12.41.02

Key notes

  • CZ proposes wallet-level blocks and UI filters to stop “toxic” addresses and copy-paste traps.
  • Example: An investor made the mistake of sending nearly $50 million to a similar address; The money was quickly divided and forfeited.
  • Binance Security Tracks Millions of Poisoned Addresses; Losses from phishing remain high across the sector.

Binance Co-Founder Changpeng “CZ” Zhao Encourage cryptocurrency wallets to automatically detect and block address poisoning scams. He proposed industry-wide blacklists and UI filtering after an investor was mistakenly sent $50 million in USDT To a misleading headline last week.

In a post titled “Let’s eliminate poison scams.” Wallets should query known “toxic addresses,” warn or ban users, and hide zero-value spam that clutters history, Zhao said. He added that Binance wallet It already performs such checks.


What’s behind headline poisoning scams?

A “poison wallet”, or address poisoning scam, is a crypto scam where attackers send small amounts of cryptocurrency (dust) from a fake address. It seems Like the address of a frequent contact in your wallet, hoping that you will later copy the fake address and send them money instead of the real person. It works by exploiting user habits, making you mistakenly send cryptocurrencies to the scammer’s address, which is only one letter different from the real address, making it difficult to detect.

The renewed push comes on the heels of a significant loss December 19when the whale copied A Similar title From their transaction history and transfer $49,999,950 USD For the attacker. On-chain records show funds leaving the victim’s wallet and arriving at an address marked as phishing. Security reports indicate that the thief quickly converted USDT and Split the proceeds across multiple wallets, with a portion of the funds directed through them Tornado Cash To confuse the path.

Cointelegraph summary Similar cases are observed this year He says Binance’s security team has indexed it ~15 million Poisoned addresses across networks via internal detection algorithm.

The $50 million incident also falls amid a broader rally Phishing-style losses. ScamSniffer It has been calculated $7.77M In losses With 6,344 victims in November alone, CertiK estimates crypto losses at $3.3 billion in 2025, with phishing and wallet hacks accounting for a significant share.

What does Czechoslovakia want the governor to do?

  • Blacklist queries: Check recipients against shared and real-time lists of poisoned addresses roadblock or warning Before users hit “Submit.”

  • Spam/Dust Filter: Hide small “dust” transfers This poison treats history.

  • Notable warnings: The default security prompts you when copying from the history or when the first/last characters match a known spoof pattern.

Why does it matter?

Wallet side controls are a Fix software to exploit the human factor. If widely adopted, blacklist checks and UI changes could neutralize one of the most common, high-impact scams in cryptocurrency without changing the underlying layer protocols.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.

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