Ethereum User Loses $50K in Address-Poisoning Scam
A cryptocurrency user has fallen victim to an address-poisoning attack, losing $50,000 in USDT on the Ethereum network.
A cryptocurrency user has fallen victim to an address-poisoning attack, losing $50,000 in USDT on the Ethereum network. Ethereum (ETH) is trading at ₹2,19,781 ($2,306.29), up 0.4% since this brief published. This is an original Token Times brief based on reporting by Crypto.news, with live market data added, as of Thu, 29 Oct 2026 04:00:01 UTC.
This incident highlights the growing threat of sophisticated phishing attacks in the cryptocurrency space, putting user funds at risk and underscoring the need for enhanced security measures.
- User lost $50,000 in USDT due to address-poisoning attack on Ethereum.
- Fraudulent address mimicked legitimate address's first four and last six characters.
- Attack demonstrates increasing sophistication of crypto phishing methods.
- Bitcoin and Ethereum ETF Flows Diverge as BTC Gains $16M, ETH Loses $61M
- Ethereum User Loses $50K in Address-Poisoning Scam — this brief
A cryptocurrency user has reportedly lost $50,000 in USDT due to an address-poisoning attack on the 
Ethereum network. The fraudulent address used in the scam closely mimicked the legitimate recipient's address, with matching characters at the start and end.
According to Scam Sniffer, the attack was designed to trick the user into sending funds to the wrong address by exploiting the similarity in the address characters. This type of phishing attack is becoming increasingly common and relies on users not thoroughly verifying the full address before confirming transactions.
The incident underscores the growing sophistication of phishing attacks in the cryptocurrency space. As users become more aware of traditional phishing methods, attackers are evolving their tactics to include more subtle and deceptive techniques like address poisoning.
In the broader market context, the total cryptocurrency market cap stands at $2.74 trillion, with 
Bitcoin down 1.41% in the last 24 hours. Ethereum, the platform on which the attack occurred, is also down 2.41% over the same period, trading at $2,296.92. 
Tether (USDT), the stablecoin involved in the scam, remains relatively stable at $0.998961.
This incident serves as a reminder of the importance of vigilance and careful verification of addresses when conducting cryptocurrency transactions. As phishing attacks become more sophisticated, users must adopt additional security measures, such as using hardware wallets and multi-factor authentication, to protect their assets.
Since this brief published about 10 hours ago, Ethereum (ETH) has moved from ₹2,18,887.63$2,296.92 to ₹2,19,780.56$2,306.29 — +0.41%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₹240,373.08 (about $2,306.29), down 2.2% over 24 hours. The rupee itself trades about 9.4% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 29, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Ethereum User Loses $50K in Address-Poisoning Scam — questions & answers
What is an address-poisoning attack?
An address-poisoning attack involves a scammer creating a fraudulent address that mimics the first and last characters of a legitimate address to trick users into sending funds to the wrong recipient.
How can users protect themselves from such attacks?
Users should always verify the full address before confirming transactions, use hardware wallets, and enable multi-factor authentication to enhance security.
How much is 1 Ethereum worth in rupee today?
About ₹240,373.08 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $2,306.29. The rupee price moves with both ETH's US-dollar price and the USDT/INR rate; use our Ethereum in rupee page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is up 0.41% since this brief first published — trading at ₹2,19,781 ($2,306.29) now versus ₹2,18,888 ($2,296.92) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto.news. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.