TechFlow reported, citing Cointelegraph, that Binance's security team has developed an algorithm capable of detecting a large number of poisoned cryptocurrency addresses. The Binance team stated: "We have developed a unique method to identify poisoning addresses, which helps us alert users before they transfer funds to criminals, and has assisted in identifying and flagging over 13.4 million spoofed addresses on the BNB Smart Chain and 1.68 million spoofed addresses on Ethereum."
Address poisoning, or address spoofing, is a scam tactic where fraudsters send a small amount of digital assets to a wallet that closely resembles a potential victim's address, making it appear in the wallet’s transaction history—hoping the victim will accidentally copy and send funds to their address.
The algorithm is also expected to help flag spoofed addresses on HashDit’s user-facing products, web browser extensions, and MetaMask Snap.
