Changpeng Zhao called for a coordinated, industry-wide response to eliminate address poisoning attacks, a technique that tricks users into sending funds to malicious addresses that closely resemble legitimate ones. The Binance founder argued that protections against this type of fraud should become a standard feature across all crypto wallets.
As a first step, Binance Wallet has already implemented alerts that warn users when they interact with potentially malicious addresses. Zhao also stressed the need for real-time blacklists to identify active malicious addresses, aiming to reduce human error and prevent unnecessary losses. In recent months, address poisoning attacks have led to significant losses, particularly involving USDT transfers.
The initiative provides a direct path to improving user security as self-custody wallet adoption continues to grow. Within the Binance community, the move has been well received, although its real effectiveness will depend on broader adoption across the ecosystem. Zhao emphasized that, alongside technical tools, user education remains critical to reducing these types of incidents.
Source: https://www.binance.com/en/square/post/34142027296314
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