What are address poisoning attacks in crypto and how to avoid them?

Address poisoning attacks manipulate cryptocurrency addresses to steal funds or disrupt blockchain networks. These attacks exploit vulnerabilities within the digital currency ecosystem, targeting users and networks. They involve various tactics including phishing, transaction interception, and address spoofing. Phishing deceives users into providing sensitive information or sending funds to malicious addresses. Transaction interception redirects legitimate transactions to attacker-controlled wallets. Address reuse exploitation uses patterns to access user wallets. Sybil attacks use many nodes to manipulate the network. Fake QR codes and address spoofing trick users into sending funds to incorrect addresses. Smart contract vulnerabilities are also used to reroute funds. These attacks cause significant financial losses, eroding user trust and disrupting network functionality. Protecting against these attacks involves creating new addresses, using hardware wallets, and being cautious when disclosing addresses. Users should choose reputable wallets and keep software updated. They can also implement whitelisting, consider multisig wallets and utilize blockchain analysis tools. Reporting suspected attacks promptly is essential for mitigation.