MetaMask Warns of Address Poisoning Scam
If you hold crypto, you want to make sure that your crypto is safe and secure. You do not want to fall for any kind of crypto scam and lose your crypto. There is a new kind of scam attempt going on and MetaMask warms crypto users about that.
This new type of scam is called Address Poisoning. Bad actors and scammers try to trick people by sending tokens worth $0 to their wallets. If you copy the wallet address from history and send your crypto to a certain address, you will be surprised to see that crypto will not reach there.
When people send crypto to any wallet, they check out the address. Most people usually check out the address's a couple of first and last characters. Bad actors generate crypto wallets matching the victim address's first and last characters to send $0 worth of tokens. So when people copy the address from history, they may copy scammers' addresses and send crypto to their addresses.
If you are not careful about checking the address you want to send your crypto, you might end up sending crypto to the wrong address. Once the transaction is done, your crypto is gone. Bad actors and scammers take advantage of every single opportunity to scam people.
MetaMask recommends users avoid copying addresses from their transaction history and check out the crypto address properly before sending any crypto. Since address poisoning scam is on the rise, there is no alternative to being careful with crypto transactions so that scammers cannot take advantage of user carelessness.
When you hold your cryptocurrency, you are responsible for everything. If you make the transaction in a bank, you may request to check it out and correct that. Bank can take initiative to correct the transaction and get your fund back into your account.
Crypto eliminates the middlemen. What you do with crypto, that's final. While crypto gives power, freedom, and control back to the people, it comes with responsibility. You have to ensure the safety and security of your crypto assets.
When you are in a hurry and under pressure, you might not pay much attention to making and confirming crypto transactions. It may take some time to check the address properly before sending crypto, but it can save you from making a terrible mistake. You do not want to learn the lesson the hard way, do you?
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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