Etherscan to Stop Displaying Zero Value Token Transfers by Default

04/10/2023 13:13 • AI Insights • 101 views

According to reports, Etherscan, a blockbrowser, will no longer display zero value token transfers by default when it releases updates on social media. Etherscan stated that this update is due to recent “address poisoning” attacks that have deceived many unsuspecting users and sent spam messages to others. After the update, users will default to not seeing these transmitted data, but they can also reopen it in the site settings.

Etherscan: Zero value token transfer will no longer be displayed by default

With the recent rise in crypto scams and frauds, major players in the crypto industry have been taking steps to protect users’ funds and keep their assets safe. One such player is Etherscan, a block browser that provides users with a detailed view of account activities and transactions taking place on the Ethereum blockchain.
According to reports, Etherscan will soon be rolling out an update that will no longer display zero value token transfers by default. This move is in response to recent “address poisoning” attacks that have deceived many unsuspecting users and sent spam messages to others.

What are “Address Poisoning” Attacks?

Address poisoning is a type of scam where attackers send a large number of small transactions to an Ethereum address, making it appear as if the address is actively receiving a lot of funds. This is done to manipulate the address ranking algorithm on Etherscan, making it seem as if the address is important.
Once the algorithm assigns high importance to a particular address, attackers use it to send spam messages or trick users into believing that the address is trustworthy. Address poisoning attacks have been on the rise lately, with many users falling prey to such scams and losing their valuable funds.

Why is Etherscan Changing Its Default Display Settings?

Etherscan has been a popular block browser among users due to its detailed view of account activities and transactions taking place on the Ethereum blockchain. However, with the recent rise in address poisoning attacks, even reputable addresses have been targeted, posing a serious threat to users’ funds.
To address this issue, Etherscan has decided to stop displaying zero value token transfers by default. This update will help prevent users from falling prey to such scams and keep their assets safe.

How Will This Update Affect Users?

After the update is released, users will not see zero value token transfers by default when using Etherscan. However, users who want to view this information can still do so by changing the settings on the site.
This update is a positive step towards protecting users’ funds and keeping the Ethereum blockchain safe from fraudulent activities. It is important for users to be aware of the risks of address poisoning attacks and to take necessary precautions to keep their assets safe.

Conclusion

Etherscan’s decision to stop displaying zero value token transfers by default is a welcome move that highlights the company’s commitment to keeping users’ funds safe from fraudulent activities. Address poisoning attacks have been a major concern for many Ethereum users, and steps like these will go a long way in preventing users from becoming victims of such scams.

Frequently Asked Questions

1. What is Etherscan?
Etherscan is a popular block browser that provides users with a detailed view of account activities and transactions taking place on the Ethereum blockchain.
2. What are address poisoning attacks?
Address poisoning is a type of scam where attackers send a large number of small transactions to an Ethereum address, making it appear as if the address is actively receiving a lot of funds. This is done to manipulate the address ranking algorithm on Etherscan, making it seem as if the address is important.
3. How will Etherscan’s recent update affect users?
After the update is released, users will not see zero value token transfers by default when using Etherscan. However, users who want to view this information can still do so by changing the settings on the site.

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