Ethereum block explorer Etherscan adds anti-scam feature

Etherscan, a block explorer for the Ethereum blockchain, has been announced. April 10th This is a feature to prevent users from falling victim to fraud.

Etherscan to hide zero-value transfers

Etherscan says it hides zero-valued token transfers by default to protect users from a scam known as an address poisoning attack.

The site previously grayed out worthless deals, but as you can see below, those deals are completely hidden under the new functionality.

During an address poisoning attack, scammers create “spoofed” addresses that are nearly identical to addresses that the target has previously traded with. The scammer then sends a zero-value transfer from the spoofed address to the target’s address. A target could confuse two similar addresses and accidentally direct funds to a spoofed address.

Since this approach relies on user error and is a form of phishing, hiding worthless transactions can make the scam significantly less attractive to victims.

Etherscan said that preventing fraud in a neutral way is an “endless cat-and-mouse game” and recognizes the value of “uncensored” blockchain records. That’s why it states that users can toggle the option in settings.

Etherscan already includes other anti-fraud features. For example, flag addresses that are known to be involved in fraud or hacking.

Zero-value attacks becoming more common

The type of scam in question is getting more attention in the cryptocurrency industry. Two of his blockchain companies, X-explore and WuBlockchain, have been killed in the wake of zero-value transfer phishing and related attacks. up to $32 million Ethereum theft.

Meanwhile, Coinbase suggests that this kind of attack began in November 2022 and led to the theft of $19 million across various platforms. February 2023.

Ethereum-focused wallet Metamask also warned about address poisoning scams in January 2023, giving users a way to protect themselves.

Post Ethereum Block Explorer The anti-fraud feature added by Etherscan first appeared on CryptoSlate.

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