An Ethereum user lost 4.556 ETH, worth over $12.4 million, after accidentally sending funds to a fake address created by hackers in an “address poisoning” scam.
According to analyzed data, the attacker created a wallet address with the same starting and ending characters as the legitimate Galaxy Digital receiving address. Then, the hacker sent small transactions into the victim’s wallet to make this fake address appear in the transaction history, making it look familiar and trustworthy.
Due to frequent transaction habits and the desire to act quickly, the victim opened the transaction history, copied the fake address without checking the entire string of characters. This copy–paste mistake caused all 4.556 ETH to be transferred directly into the attacker’s wallet.
Address poisoning scams are increasing in the crypto space, as hackers exploit users’ tendency to only check the first and last few characters of a wallet address. Previously, at the end of 2025, another investor lost up to $50 million in a similar manner, even after attempting to transfer a small amount first. This initial test transaction was exploited by hackers to create a fake address that closely resembled the real one, leading the victim to send the remaining funds to the wrong address.
Experts advise users not to copy addresses from transaction history but to verify the entire wallet address before sending funds. Additionally, using ENS or saving trusted addresses in a wallet’s contact list can reduce risks. Some investors also suggest splitting large transactions into smaller parts instead of transferring all funds at once to limit potential losses in case of errors.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Institutional Conviction Fuels Bullish Ethereum Outlook Despite Brutal Crypto Selloff
Institutional investors appear unfazed by ethereum’s sharp slide from its 2025 peak, as resilient ETP holdings, rising staking participation, and steady accumulation signal that major capital may still be positioning for a longer-term rebound.
Ethereum Bear Market May Mask Massive Repricing
Coinpedia42m ago
A certain whale has withdrawn 63,324 ETH worth $131 million from a certain CEX in the past two days.
Gate News reports that on March 12, on-chain analyst Yu Jin monitored that a certain whale/institution withdrew 44,888 ETH from a CEX yesterday (March 11), and early this morning, it withdrew another 18,436 ETH (worth $38.26 million) from the same exchange. In other words, the whale withdrew a total of 63,324 ETH (worth $131 million) from the CEX over a period of more than one day, at an average withdrawal price of $2,072. These ETH are currently stored across four different wallets.
GateNews1h ago
Pump.fun registers subdomains on Base, BSC, Monad, and Ethereum, or will expand to multiple chains
Gate News Report, March 12 — According to on-chain data monitoring, Pump.fun has registered subdomains on Base, BSC, Monad, and Ethereum. At the same time, Pump.fun also removed the Solana logo from its X platform account homepage. The market believes these actions may be early signals of the platform's multi-chain expansion.
GateNews1h ago
ETH funding rate turns negative: Are ETH bears back in control?
Ether’s price trajectory has remained tepid as institutional interest wavered and on-chain activity cooled, even as Ethereum developers push forward with upgrades designed to improve scalability and wallet security. Over the last month, the asset has struggled to sustain above $2,100, with a
CryptoBreaking1h ago
Pump.fun registers subdomains on Base, BSC, Monad, and Ethereum, or will expand to support multiple chains
Gate News Report, March 12 — According to SolanaFloor, Pump.fun has registered subdomains on Base, BSC, Monad, and Ethereum, indicating that the platform may be considering expanding from the Solana ecosystem to other blockchain networks. At the same time, Pump.fun also removed the "Solana" location tag from its X profile.
GateNews1h ago
