An Ethereum user lost 4.556 ETH, worth over $12.4 million, after accidentally sending funds to a fake address created by hackers in an “address poisoning” scam.
According to analyzed data, the attacker created a wallet address with the same starting and ending characters as the legitimate Galaxy Digital receiving address. Then, the hacker sent small transactions into the victim’s wallet to make this fake address appear in the transaction history, making it look familiar and trustworthy.
Due to frequent transaction habits and the desire to act quickly, the victim opened the transaction history, copied the fake address without checking the entire string of characters. This copy–paste mistake caused all 4.556 ETH to be transferred directly into the attacker’s wallet.
Address poisoning scams are increasing in the crypto space, as hackers exploit users’ tendency to only check the first and last few characters of a wallet address. Previously, at the end of 2025, another investor lost up to $50 million in a similar manner, even after attempting to transfer a small amount first. This initial test transaction was exploited by hackers to create a fake address that closely resembled the real one, leading the victim to send the remaining funds to the wrong address.
Experts advise users not to copy addresses from transaction history but to verify the entire wallet address before sending funds. Additionally, using ENS or saving trusted addresses in a wallet’s contact list can reduce risks. Some investors also suggest splitting large transactions into smaller parts instead of transferring all funds at once to limit potential losses in case of errors.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Yesterday, Ethereum spot ETFs had a total net outflow of $82,851,900, and none of the nine ETFs experienced net inflow.
On March 7th, Ethereum spot ETFs experienced a total net outflow of $82,851,900, with all nine ETFs showing no net inflow. Among them, Fidelity FETH saw an outflow of $67,566,900, and Grayscale ETH Trust experienced an outflow of $5,997,900. As of now, the total net asset value of ETFs is $11.283 billion.
GateNews16m ago
The whale "pension-usdt.eth" has increased its Bitcoin long position to 1,000 coins, with a holding value of nearly $67 million.
Gate News Report, March 8 — According to HyperInsight monitoring, the swing whale "pension-usdt.eth" continued to increase its Bitcoin long positions this morning. As of press time, its Bitcoin long positions have increased to over 1,000 coins, with a holding value of nearly $67 million, currently with an unrealized loss of $460,000.
GateNews1h ago
Brother Ma Ji Huang Licheng's 25x ETH long position was partially liquidated again, with a liquidation price of approximately $1926.
Gate News Report, March 8th, on-chain data shows that due to a short-term slight decline in the market, Big Brother Magi Huang Licheng's 25x Ethereum long position was partially liquidated again. He currently holds 2,500 ETH, with an unrealized loss of about $200,000, and a liquidation price of approximately $1,926.
GateNews2h ago
ETH drops 1.36% in 15 minutes: Deteriorating macro sentiment and liquidity crunch trigger spot selling pressure
From 02:45 to 03:00 on March 8, 2026 (UTC), ETH prices fluctuated sharply within the range of 1,936.0 to 1,969.18 USDT. The 15-minute candlestick yield was -1.36%, with an amplitude of 1.68%. The short-term downtrend intensified, market attention significantly increased, trading activity was high, and panic sentiment dominated.
The main driver of this anomaly was the widespread decline in global risk assets and escalating extreme panic sentiment. Major US stock indices experienced a sharp pullback, and the VIX fear index soared to 29.49 (+24.17%), leading to
GateNews2h ago
Wave ETH whale withdrew 6,898.98 ETH from a certain CEX this morning, worth 13.58 million USD
Gate News Report, March 8 — According to on-chain analyst Ai Yi's monitoring, a large trader who made a profit of $185,000 through ETH swing trading on March 3 has made another move. Three hours ago, this address withdrew 6,898.98 ETH, worth $13.58 million, at a withdrawal price of $1,968.58. The last swing buy-in point for this address was at $2,056, with a suspected sell point at $2,083, and the holding period was a total of 3 days.
GateNews3h ago
