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Understanding the mechanics behind address poisoning is crucial for anyone engaged in crypto transactions. The address poisoning process occurs in four distinct phases:
1. Monitoring Phase
Scammers begin by monitoring the blockchain specifically looking for active wallets that frequently make transactions. Victims often include those involved in large transfers, but even infrequent users can fall prey, as was the case with the narrator.
2. Address Generation Phase
Once a target is identified, attackers utilize specialized software to create a vanity address — a public address that has the same start and end sequences as the target address. This process involves running through millions of private keys to find a match with the desired address pattern.