Trust Wallet has introduced a real-time address detection feature to protect cryptocurrency users, Cointelegraph reported on March 10 local time.
The feature automatically detects fraudulent addresses, preventing users from unintentionally sending assets to the wrong address.
Trust Wallet said the update is a step to respond to a recent surge in address poisoning attacks. In such attacks, scammers send small amounts of cryptocurrency to leave their addresses in transaction histories, then induce victims to copy them and send funds to the wrong address. More than 225 million attacks have occurred so far, and losses worth $500 million have been confirmed, Cointelegraph said.
More recently, two investors lost cryptocurrency worth $62 million in an address poisoning attack.
Chi-gyu Hwang
delight@d-today.co.kr