Surge in Ethereum Network Activity Linked to Address Poisoning Attacks: Researcher

Ethereum Network Activity Surge Linked to Address Poisoning Attacks: Researcher

A recent increase in activity on the Ethereum network may be significantly influenced by address poisoning attacks, which have become more affordable due to declining transaction fees, according to security researcher Andrey Sergeenkov.

Key Takeaways:

The recent surge in Ethereum activity might stem from address poisoning spam rather than true user growth.
The reduction in gas fees following the Fusaka upgrade has made large-scale address poisoning attacks cheaper to carry out.
To date, over $740,000 has been lost through dusting campaigns.

This alert follows reports indicating that Ethereum's network activity retention almost doubled, reaching 8 million addresses in just a month, while daily transactions peaked close to 2.9 million.

Sergeenkov noted that during the week starting January 12, approximately 2.7 million new addresses were created, which is about 170% higher than the typical rates, with daily transactions consistently hitting over 2.5 million.

Exploring the Surge in Ethereum Activity

Initially, this spike appeared to suggest genuine growth, but Sergeenkov warned that some of the increase could be related to large-scale spam campaigns known as address poisoning.

These attacks take advantage of low transaction fees by inundating the network with small transactions that are intended to mislead users rather than promote legitimate activity.

Address poisoning operates by sending minuscule transfers from wallet addresses that closely mimic real ones. Consequently, when users copy an address from their transaction history, they may unintentionally transfer funds to the attacker.

This strategy has become more cost-effective since the Fusaka upgrade in December when network fees dropped by over 60% in the following weeks.

“Address poisoning has become disproportionately appealing to attackers,” Sergeenkov stated, pointing out that enhancing blockchain infrastructure without prioritizing user safety could disrupt genuine activity metrics.

To investigate the attacks, Sergeenkov reviewed wallets that received less than $1 in their first stablecoin transaction. He identified clusters of addresses known as “dust distributors” and filtered those that executed transactions to over 10,000 recipients, which aligns with patterns seen in poisoning campaigns.

Some of the most actively used distributor wallets sent dust to more than 400,000 addresses, he added. So far, over $740,000 has been taken from at least 116 victims via this method.

These findings underscore the challenges presented by Ethereum’s increased efficiency. While lower fees have made the network more user- and developer-friendly, they have also lowered the cost of misconduct.

Sergeenkov emphasized the necessity for enhanced wallet-level security measures and clearer warnings for users, suggesting that merely focusing on transaction growth is not a reliable indicator of a healthy network.

Vitalik Buterin Addresses the Shift in Ethereum’s Goals

Ethereum co-founder Vitalik Buterin has framed this period as more than just a technical breakthrough.

In a recent message, he stated that the community is entering a phase that emphasizes personal autonomy and enhances user experience. He argued that previous compromises made in the name of adoption no longer necessitate defining the future of the network.

“2026 is the year we reclaim lost ground in terms of self-sovereignty and trustlessness,” Buterin shared in an X post.

Collectively, record activity, decreased fees, and increased user participation suggest that Ethereum is transitioning into a new era, one where expansion does not come at the cost of accessibility.