$62M Ethereum Losses: How Address Poisoning Scams Thrived After Fusaka Upgrade
What Are and Why Are They Hitting Ethereum Hard?
Imagine sending millions in crypto to what you think is your trusted wallet, only to watch it vanish into a scammer’s hands. This nightmare became reality for Ethereum users, with
causing over $62 million in losses in just two months. One victim lost $12.25 million in January by copying the wrong address from their history. Another dropped $50 million in December the same way. These attacks are sneaky, cheap, and growing fast thanks to Ethereum’s recentBlockchain security experts warn that these scams are now easier than ever. Low fees after the upgrade let bad actors spam tiny ‘dust’ transactions everywhere. This poisons users’ transaction histories, tricking them into big mistakes. Let’s break it down step by step and learn how to stay safe.
How Works: A Simple Guide
is a clever social engineering trick. Scammers don’t hack your wallet. They fool you into sending funds to them. Here’s the play-by-play:- Dust Attack: Scammers send you tiny amounts of crypto, like a few cents, from an address that looks almost identical to one you use often.
- Visual Trick: They craft addresses matching the first and last 4-5 characters of your real ones. In your wallet app, they blend right in.
- The Trap Springs: When you check recent transactions to copy-paste an address, you grab the fake one by mistake and send big money there.
Security firms track these as top threats. Losses range from $4 million to over $126 million per hit. It’s consistent because it preys on human error, not tech flaws.
The : Fuel for the Fire
Ethereum’s
- Cheap dust transactions: Now cost pennies, so attackers spam millions.
- Network boom: Daily transactions hit records, but much is fake activity from scams.
- Active addresses spike: 26% tied to dust on average, per data analysis.
One report looked at 227 million stablecoin wallet updates from November 2025 to January 2026. Found 38% of addresses hold less than a penny – pure dust traps. Stablecoin dust alone makes up 11% of all Ethereum transactions. This inflates stats, making the chain look busier than it is with real users.
ETH price? Barely moved. Trading at $2,052, down 2.82% recently. No bull run despite ‘records’ – a red flag for artificial hype.
Signature Phishing Joins the Party: Another $6.27M Gone
It’s not just address tricks. Signature phishing exploded too. Scammers trick you into signing bad transactions, like unlimited token approvals. Result? They drain your wallet later.
January stats: $6.27 million stolen from 4,741 victims. That’s a 207% jump from December. Two big wallets took 65% of losses, including a $3.02 million hit.
These attacks mix with poisoning for max damage. Low fees post-
Why DAI? Scammers’ Favorite Hideout
Stolen funds need a home. Enter DAI, the decentralized stablecoin. Blockchain intel shows it’s a top pick for crooks.
Reason: MakerDAO’s rules won’t freeze wallets for cops. It’s a ‘parking space’ for loot. No central control means no quick takedowns. Paired with poisoning scams, it keeps money flowing in the shadows.
The Bigger Picture: Inflated Metrics Hurt Ethereum
Post-
Users see hype, but savvy traders notice the disconnect. ETH struggles to rally while bots poison the well.
How to Protect Yourself from
Don’t panic – simple habits block most attacks. Follow these tips:
- Verify Addresses: Always copy-paste carefully. Double-check first and last characters. Use address books or ENS names.
- Ignore Dust: See tiny incoming tx? Mark as spam. Don’t interact.
- Use Hardware Wallets: They show full addresses clearly.
- Enable Scam Alerts: Tools like wallet scanners flag poisons.
- Revoke Approvals: Check and cancel unlimited signatures regularly.
- Multi-Sig for Big Funds: Needs extra approval for sends.
Stay vigilant. Education beats most scams.
What’s Next for Ethereum Security?
For now, $62 million gone is a wake-up call. Ethereum’s scaling is power – but scammers love free power. Protect your stack, spread the word, and help build a safer chain.
Have you spotted dust in your history? Share in comments. Stay safe out there.
