Is Ethereum’s activity growth fake? Behind the 3.86mln poisoned wallets
Ethereum's recent surge in network activity, including a 170% increase in new addresses and record-high transactions, is largely artificial and driven by a large-scale address poisoning attack. Security researcher Andrey Sergeenkov found that around 80% of this growth came from stablecoin transactions, with 3.86 million out of 5.78 million new addresses receiving initial transfers of less than $1. These "dust" payments are used by attackers who mimic victim wallet addresses to trick users into sending funds to fraudulent accounts. The Fusaka upgrade, which reduced ERC-20 transfer fees by nearly six times, made such attacks profitable by enabling mass spam transactions. Despite a low success rate, one victim lost $509,000, highlighting the risks behind these inflated metrics.
ambcrypto01/20 15:05
