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Trader Loses $12.4 Million After Sending Crypto to Wrong Wallet in Address Poisoning Attack

An attack known as (Address Poisoning) caused a trader to lose $12.4 million in cryptocurrency after funds were sent to a fake address that closely resembled the original, according to the web3_antivirus platform.

Blockchain data shows that the victim's wallet has been active for over five years and previously held significant investments on the Compound protocol, indicating that the victim is an experienced crypto user.

The attack method involved the attacker sending a small amount of cryptocurrency to a fake address that appeared in the transaction history. When the victim later copied the address from the transaction record to send more funds, they inadvertently copied the fake address instead of the correct one.

As a result, millions of dollars were transferred directly to the attacker’s wallet, not through a direct hack or technical security breach, but via visual deception and exploiting the behavior of copying addresses from transaction logs.

This incident confirms that the danger is not limited to beginners; even experienced users can fall victim. Manual verification of addresses before any large transfer has become a necessity, not an option.