Address poisoning scam involves scammers mimicking victims' crypto addresses, resulting in large financial losses.
Public blockchains make it easy for scammers to find and target individuals, emphasizing the need for heightened security measures.
Sending small test transactions, double-checking addresses, and avoiding historic address copying are key precautions against crypto scams.
FBI reported that crypto-related frauds amassed $3.94 billion in losses, showcasing the growing prevalence of cryptocurrency scams.
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