Hoskinson Blames Account-Based Blockchains for $50M Address Poisoning Scam

• Trader loses $50 million in USDT through an address poisoning attack.
• Charles Hoskinson states that UTXO blockchains like Cardano resist poisoning attacks.
• Crypto thefts surpassed $3.4 billion in 2025, according to Chainalysis data.

Digital asset security remains the primary challenge facing the cryptocurrency sector as it enters 2026. An unnamed trader lost nearly $50 million in USDT to an address poisoning scam, raising questions about infrastructure resilience.

The victim had operated their wallet for approximately two years, primarily conducting USDT transfers. The trader followed standard security practices by sending a test transaction of 50 USDT before executing the larger transfer. Despite this precaution, the attack succeeded through social engineering tactics.

Address Poisoning Exploits Fundamental Design Flaws

Charles Hoskinson, founder of Cardano,…

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