Citi warns: Surge in Ethereum activity may be a false boom caused by "address poisoning" scams

Jinse Finance reported that Citibank released a report indicating that the recent record surge in Ethereum trading volume and active addresses does not represent healthy growth. Analysts believe that the vast majority of new transactions are less than $1, which is characteristic of "address poisoning" scams. Scammers take advantage of Ethereum's low transaction fees to send tiny amounts of tokens to a large number of wallets with addresses that closely resemble those frequently used by users, attempting to trick users into making mistaken transfers later. Research shows that about 80% of newly active addresses are related to small stablecoin transfers. Citi pointed out that this growth, driven by malicious activity, contrasts with the declining activity trend of Bitcoin, and also explains why ETH has recently underperformed BTC in price.