What was worth watching on Solana last night wasn’t just the price pullback—it was Bitquery laying bare the scale of “address poisoning”: this isn’t a single phishing link, but a systemic vulnerability in how people make SOL, USDC, and USDT transfers.
Bitquery’s October 9 study covered the period from 2025-10-30 to 2026-10-07: 4.498 million wallets were poisoned, and about 9.4 million fake lookalike addresses were distributed, with a median of roughly 42,000 per day. A total of 1,104 paid lookalike addresses caused losses of about $940,100. Binance News also documented a case on October 12 in which someone first tested with 10 USDT, then still mistakenly transferred 30,749.80 USDT.
As of October 13 at 10:32 (UTC+8), Binance SOLUSDT was down about 5.18% over 24 hours, with roughly $297 million in trading volume; USDCUSDT had about $4.113 billion in 24-hour trading volume. A bullish scenario would involve wallets and exchanges strengthening address verification, and users switching to whitelists. A neutral scenario would see the incident remain a security-awareness issue. A bearish scenario would be further spread of large mistaken transfers, undermining trust in Solana payments.
The biggest caveat: Bitquery’s sample may not represent actual losses across the entire network. For your next transfer, will you check only the first and last few characters, or verify the entire address? #Solana #On-chain security
For informational purposes only; this does not constitute investment advice.
Bitquery’s October 9 study covered the period from 2025-10-30 to 2026-10-07: 4.498 million wallets were poisoned, and about 9.4 million fake lookalike addresses were distributed, with a median of roughly 42,000 per day. A total of 1,104 paid lookalike addresses caused losses of about $940,100. Binance News also documented a case on October 12 in which someone first tested with 10 USDT, then still mistakenly transferred 30,749.80 USDT.
As of October 13 at 10:32 (UTC+8), Binance SOLUSDT was down about 5.18% over 24 hours, with roughly $297 million in trading volume; USDCUSDT had about $4.113 billion in 24-hour trading volume. A bullish scenario would involve wallets and exchanges strengthening address verification, and users switching to whitelists. A neutral scenario would see the incident remain a security-awareness issue. A bearish scenario would be further spread of large mistaken transfers, undermining trust in Solana payments.
The biggest caveat: Bitquery’s sample may not represent actual losses across the entire network. For your next transfer, will you check only the first and last few characters, or verify the entire address? #Solana #On-chain security
For informational purposes only; this does not constitute investment advice.