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The developers of the Trust Wallet cryptocurrency wallet have announced the implementation of an automatic protection system for addresses against “crypto dust attacks”—a fraudulent scheme where malicious actors present users with counterfeit addresses that resemble legitimate ones.
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Representatives from the wallet team indicated that the new system verifies addresses in transactions and alerts users about potential address substitution before funds are sent. Currently, this feature operates across 32 EVM-compatible blockchains—networks built on the EVM technology used for deploying smart contracts within the Ethereum ecosystem. The creators of Trust Wallet have pledged to extend support to additional networks.
To detect suspicious addresses, the tool utilizes databases from HashDit and Binance Security, which contain information on potentially fraudulent addresses.
According to Trust Wallet’s estimates, approximately 34,000 “crypto dust attacks” occur every hour, impacting millions of users. This new feature complements the existing security tools of the wallet, including a transaction risk assessment system introduced in 2023.
Trust Wallet is a hot (software) cryptocurrency wallet, a project of the Binance cryptocurrency exchange. At the end of December, one version of the Trust Wallet browser extension was compromised by hackers, resulting in user losses exceeding $6 million.
Experts from the network data provider Coin Metrics analyzed over 227 million updates of wallets with USDC and USDT from November to January and reported that following the launch of the latest major update, Fusaka, on the Ethereum network, the volume of “crypto dust transactions” involving stablecoins increased two to three times.
