News

The Trust Wallet team has introduced a new security feature designed to counter the popular fraud scheme in the blockchain space. This tool is designed to automatically detect attempts at so-called "cryptographic attacks" when fraudsters try to substitute the recipient's address.

The essence of the problem that many users have encountered is that attackers create wallets with addresses that look almost identical to those with which the victim previously performed transactions. At first glance, these addresses may differ by only a couple of characters, which is easy to miss when skimming through the transaction history.

The new Trust Wallet feature is activated at the transaction initiation stage. The system checks the recipient's address entered by the user against databases where information about suspicious and fraudulent wallets is collected. This uses data from HashDit and Binance Security. If the address corresponds to known phishing schemes, the system blocks the sending of funds and issues a warning. It is important that the verification takes place before funds are debited.

At the moment, the new feature is available for 32 blockchains compatible with the Ethereum Virtual Machine (EVM). These are networks that use EVM technology, originally developed for the Ethereum ecosystem. Representatives of Trust Wallet assured that in the future it is planned to expand protection to other blockchains that are not part of the EVM-compatible group.

The introduction of automatic address verification based on HashDit and Binance Security databases helps minimize the risks associated with human error and errors when copying addresses. Given that cryptographic attacks occur in the tens of thousands per hour and their number increases after updates to the Ethereum network, such a tool becomes critically important for the basic security of non-custodial wallets. For the Trust Wallet team, which has been dealing with security issues recently, the launch of this feature is a step towards restoring user trust and increasing protection in response to current threats.