🪜 Fake Address Scam

Although many tips related to fund security have repeatedly emphasized that when transferring funds, especially large amounts, it is important to check and verify the correct address of the recipient multiple times, there are still crypto users posting posts in the community transferring funds to similar addresses, resulting in serious fund loss requests.

If you are using a non-custodian wallet like Envo, the user's funds and transactions are only controlled by the user personally, and Envo cannot revoke the transactions and help retrieve the tokens once the transactions are completed on the chain. So is a large transfer to a similar address an accident caused by your own carelessness or a trap laid by a fraudster in advance? The Envo team discovered that this is actually a well-hidden scam. The scammer will search the chain for wallets with a long history of large USDT transactions, monitor the transaction history of the wallet address, find the address where the money is often received, and then use technology to generate an address that is very similar to the address where the money is received, usually with the same first or last few digits, and then the scammer will transfer small amounts of USDT to the monitored wallet address several times, thus overwriting the normal transaction history of the address. address, thereby overwriting the previous normal transaction history of that address. When users transfer funds again, they may directly copy the transfer address from the previous transfer receipt record to make the transfer, but in fact the address has been replaced by the scammer and the user will transfer funds to the scammer's address which is not distinguishable due to its high similarity, resulting in the loss of tokens. How to prevent fake address scam?

If you frequently transfer funds to and from addresses, it is recommended that you verify the address completely every time you transfer funds.

It is recommended to use the address book function of your wallet to enter your daily transfer addresses into the address book, so that you don't have to repeatedly verify your addresses every time you transfer money, and you can ensure the security of not transferring the wrong addresses.