Etherscan now filters out potential scams

Etherscan, the blockchain explorer, has reconfigured its default blockchain viewing settings in a move to protect users from a common type of phishing scam. The company tweeted on Monday that it will now hide zero-value token transfer displays on its website by default. The setting aims to prevent users from becoming victims of "address poisoning" hacks, in which attackers send virtually valueless tokens to a user's wallet addresses to bait them into sending tokens to a scam address.

In recent times, address poisoning attacks have phished unsuspecting users and spammed everybody else," said Etherscan. "Preventing scams and attacks in a neutral and scalable way is an infinite cat-and-mouse game."

Zero-value token transfers have drained $19 million from victims' wallets between late November 2022 and Feb. 13, 2023, according to Coinbase. To view zero-value token transfers, users will have to disable the feature in the website's setting page.

The move by Etherscan highlights the ongoing challenges that users face in the crypto space. While the crypto industry offers the potential for significant returns, it also carries significant risks that users need to be aware of. Phishing scams are just one example of the risks that users face when dealing with cryptocurrencies.

To protect themselves against phishing attacks, users should be careful when receiving unsolicited messages or emails. They should also verify the authenticity of any communication that they receive, especially if it involves sending or receiving cryptocurrency. Users should also use two-factor authentication whenever possible to secure their accounts.

Overall, the move by Etherscan to hide zero-value token transfer displays by default is a positive step in protecting users from phishing attacks. However, users should still be aware of the risks associated with the crypto industry and take steps to protect themselves from potential scams and attacks.