Phishing Losses Surge as Address Poisoning Becomes a Major Crypto Threat

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Phishing scams continue to drain millions from crypto users, with address poisoning emerging as one of the most damaging methods. Scam Sniffer data shows phishing cost more than 6,300 victims over $7.7 million in November alone, a figure expected to spike in December.

The surge follows a single address poisoning incident in which one victim lost $50 million in USDT. Security firms say the attack vector is particularly dangerous because it exploits common user habits, such as copying wallet addresses from transaction histories.

Experts warn that without better wallet-level protections, losses are likely to keep rising.