Crypto User Loses $50M in One Copy-Paste Mistake – Address Poisoning Scam

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Story Highlights

Crypto user loses nearly $50 million USDT after copying a fake address accidentally.

Scammer used address poisoning by mimicking wallet address characters in transaction history.

Lookonchain confirms scammers exploit copy-paste habits, not wallet hacks or private keys.

A crypto user has lost nearly $50 million in USDT after falling victim to an address poisoning scam, according to on-chain analytics platform Lookonchain. The incident happened due to a simple copy-paste mistake during a large transfer and is now being described as one of the costliest errors in crypto history.

How the $50 Million Transfer Went Wrong

The incident began with what looked like a careful move. Before sending a large amount, the victim first transferred 50 USDT as a test transaction to their own wallet address. This is a common habit among crypto users to avoid errors.

However, scammers were closely monitoring the wallet.

Soon after the test transaction, the scammer created a fake wallet address that looked almost identical to the victim’s real address, matching the same first and last four characters.