The scammers will employ wallet addresses produced by vanity address generators and match the first and final characters of the wallet address of their victim.
According to the MetaMask team, a new crypto wallet address fraud that takes advantage of user ignorance has been on the increase.
In a release, the digital wallet service MetaMask cautioned users of an “address poisoning scam,” in which attackers “poison” transaction records by delivering $0 tokens to customers’ wallets. The scammers will employ wallet addresses produced by vanity address generators and match the first and final characters of the wallet address of their victim. This causes unwary customers to transfer their payments to a fraudulent clone address.
While the effort would not provide the hacker access to user wallets, individuals who have developed the practice of copying their wallet address from the transaction history before transmitting digital asset balances may have sent cash to copycat addresses.
As a result, the wallet provider cautioned customers to constantly be careful and verify all transactions before transmitting their holdings. The company emphasised the need of verifying each and every character of the wallet address to guarantee funds are transmitted to the proper wallet.
In addition, the company suggested that users cease copying wallet addresses from their transaction history and instead transmit digital assets via their address book.