Crypto Investors Lose $2.5M for Replicating the Same Scam Address twice
Encrypted users just lost over $2.5 million in simple copy and processing errors. They tried to move 843,166 USDT to a secure wallet. Instead, they send a portion of it to the wrong address.
Then they did it again – this time sending $1.7 million to the same fraudster. It’s an expensive reminder that even a small single can eliminate fate.
Replica paper could result in millions of dollars in losses
According to the chain record, the victim first transferred the price of $838,611 to the correct address in USDT (0x4668D1FE87444A4D750…). After a moment, they clicked on the wrong entry in the transaction history.
This misstep cost them $843,166 at the current price. They try again. The funds were again used in the fraudster’s accounts, and another $1.7 million disappeared.
Phishing scams remain a big problem. Image: Perkins School For The Blind
The trick of historical poisoning attracts many measures
According to a report by Scam Sniffer, Scammers uses “transaction history poisoning” to address these shortcomings. They sent tiny “dust” transfers from similar addresses, which was enough to mess up the wallet’s history.
🚨Trading History Poisoning:
1. Scammers send fake/dust transfer with similar address
2. Their fake addresses appear in your history
3. You copied the address from history and thought it was legal
4. Funds are sent to the scam– Scam Sniffer | Web3 Anti-SCAM (@RealScamSniffer) May 26, 2025
When users scroll through past transactions, they cannot tell the real address from a fake one. clone. Paste. Leaving. In this case, the attack address (0x4668EE748C88DA4FEC…) looks almost the same as the real attack address. It shows zero balance, adding to the chaos.
Phishing scams are still high
Phishing losses reached $5.29 million in April. It was down 17% from March. However, the number of victims rose 26% from 5,992 to 7,565 addresses. A “whale” lost $1.43 million to phish signatures. Back in March, the biggest shipping cost was $1.82 million.
🚨Scam April 2025 Phishing Report
April Loss: $5.29 million | 7,565 victims
VS March: -17% of loss | + 26% of victimsKey Insights: A significant peak in the number of victims despite low total losses. The biggest attack received $1.43 million through phishing, followed by $700,000 in address poisoning… pic.twitter.com/mjbgggygrn
– Scam Sniffer | Web3 Anti-SCAM (@RealScamSniffer) May 3, 2025
Total crypto market cap currently at $3.4 trillion. Chart: TradingView
April’s second-largest attack cost a user $700,000 after copying the wrong address. Another person mistakenly sent $150,000. And Wallet 0XEFC4F1D5 only lost over $467,000 in similar replication traps.
New threat to EIP-7702 upgrade
On May 24, phishing gang Inferno Drainer snatched a hit of nearly $150,000 using Ethereum’s new EIP-7702 rule. EIP-7702 temporarily allows regular accounts to act like smart contracts.
The scammer directed the victim to approve a batch of hidden token transfers through an authorized meta-packet setup. Open the door with one click for a silent “execution” command that exhausts the wallet in seconds.
Greed breeds risks
The total value of the crypto market is close to $3.5 trillion. On May 22, Bitcoin’s latest all-time high was $111,900. Traders are chasing huge gains. Emergency action is taken in a hurry, and errors will be encountered in emergency action.
Featured images from Unsplash, charts for TradingView
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