$50M Vanishes in Seconds: Copy-Paste Wallet Error Triggers One of Crypto’s Costliest Address Scams
Key Takeaways:How a Routine Test Transfer Turned Into a $50M LossAddress Poisoning: A Low-Tech Attack With High ImpactWhy This Attack Still Works at ScaleOn-Chain Movements After the TheftWhy This Case Shocked AnalystsWallet Design and the Human Factor
This incident raises questions about wallet UX choices. Truncated addresses improve visual clarity but reduce security for users handling large sums.
Some wallets now warn users about address poisoning or flag addresses that closely resemble known ones. Others offer address whitelisting, where transfers are restricted to pre-approved addresses. Adoption of these features, however, remains inconsistent.
For high-value transfers, reliance on visual checks alone has proven insufficient. The case shows how even experienced users can fall into predictable patterns under time pressure.
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