Binance develops new algorithm to detect "poisoning scams"

2024-05-16 17:59

BlockBeats news, on May 16, according to Cointelegraph, the Binance security team has developed an algorithm that can detect a large number of poisoned crypto addresses. It said: "We have developed a unique method to identify poisoned addresses, which helps us alert users before they transfer money to criminals, and helps identify and mark more than 13.4 million spoofed addresses on BNB Smart Chain and 1.68 million spoofed addresses on Ethereum."


Address poisoning or address spoofing is a deception method in which scammers send a small amount of digital assets to a wallet that is very similar to the address of a potential victim, making it part of the wallet's transaction history, hoping that the victim will accidentally copy and send funds to their address.

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