BlockBeats News, December 21st, in response to the “50 Million USDT Phishing Attack” incident, the Ethereum Community Foundation posted on Platform X, calling for an end to the practice of truncating addresses with ellipsis (e.g., 0xbaf4b1aF…B6495F8b5). Address information needs to be fully displayed, as hiding the middle part of the address can create unnecessary risks. Currently, some wallets and blockchain explorers provide UI options that also have security issues, which can actually be resolved.
Previously reported, the phisher generated an address with the first and last 3 digits the same to transfer 0.005 USDT to the victim’s address. Then, when the whale officially transferred the funds or directly copied the address from the most recent transaction record, the entire 50 million USDT was transferred to a similar address generated by the phisher. The phisher quickly exchanged this 50 million USDT for DAI (to prevent freezing), then bought all of it into 16,624 ETH. Subsequently, these ETH were all washed away through Tornado.
