Crypto Theft Spree: Over $1.6 Million Lost to Address Poisoning Attacks

A wave of sophisticated cryptocurrency theft has been sweeping through the blockchain, leaving victims reeling after losses exceeding $1.6 million in just the past week alone. Scammers are using a tactic known as address poisoning, where they craft look-alike addresses that mimic legitimate transactions. This deception tricks users into sending funds to a malicious address, often without realizing the trap until it’s too late.