USDT Trader Loses $2.5M in Address Poisoning Scam: A Cautionary Tale

On May 26, 2025, a cryptocurrency trader suffered a staggering loss of over $2.5 million in Tether (USDT) due to an address poisoning scam. The incident, confirmed by blockchain security firm Scam Sniffer, involved two transactions within hours. The first transaction saw $843,000 sent to a fraudulent address after the trader copied a manipulated wallet from their transaction history. In a heartbreaking repeat, the trader fell victim to the same scam again, compounding the losses. This serves as a stark reminder of the importance of vigilance in the crypto space.

Crypto Trader Loses $2.5M USDT in Repeat Address Poisoning Scam

A cryptocurrency trader suffered losses exceeding $2.5 million in Tether (USDT) after falling victim to the same address poisoning scam twice within hours. Blockchain security firm Scam Sniffer confirmed the incidents occurred on May 26.

The first transaction saw $843,000 erroneously sent to a fraudulent address after the trader copied a manipulated wallet from their transaction history. In a devastating repeat, the trader subsequently transferred an additional $1.7 million to the same scam address.

Address poisoning attacks involve bad actors sending micro-transactions from wallet addresses mimicking legitimate ones. These appear in the victim’s transaction history, creating opportunities for costly mistakes when users later copy recipient addresses.

Cardano Faces Resistance Amid Market Doubts; Unilabs Launches USDT Yield Products

Cardano’s ADA struggles to overcome key resistance levels as fresh allegations erode investor confidence. Technical indicators suggest further downside potential, with the token failing to gain traction despite broader market recovery attempts.

Meanwhile, Unilabs emerges as a disruptive force in DeFi yield generation. The platform’s AI-driven arbitrage tools and high-interest USDT savings accounts attract capital seeking stablecoin yields exceeding traditional CeFi offerings. Early participants in their ongoing presale can secure a 30% bonus allocation.

Bitget Launches BGUSD with 5% APY, Tapping into RWA-Backed Yields

Bitget has introduced BGUSD, a yield-generating asset backed by tokenized real-world assets including money market funds and U.S. Treasury products. The product offers daily yields with an annualized rate starting at 4%, featuring a promotional 5% APY for the first 30 days.

BGUSD is fully integrated into Bitget’s trading and wealth management ecosystem. Users can redeem it 1:1 for USDC or subscribe using USDC and USDT. Yields are credited daily to users’ spot accounts based on their minimum daily balance.