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Wallet Poisoning and Phishing Scams Drain Millions in Crypto
Feb 9, 2026
< 1 min read
by Ikemefula Aruogu
for CoinEdition
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- There are rising instances of social engineering and address poisoning in the crypto sector.
- Two people lost over $62 million after copying the wrong addresses during transactions.
- Hackers are increasingly favoring the DAI stablecoin for illicit transfers.
Blockchain analytics platforms have spotted rising instances of social engineering and wallet poisoning within the cryptocurrency ecosystem. A crypto anti-scam group, Scam Sniffer, reported that two individuals lost $12.25 million and $50 million in January 2026 and December 2025, respectively, by copying the wrong addresses from their wallets’ transaction history.
Read The Full Article Wallet Poisoning and Phishing Scams Drain Millions in Crypto On Coin Edition.
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