Preventing Dust Attack

Attack Mechanism:

  • The "Dust" attack is a fraudulent technique in which an attacker impersonates a wallet address using the same first and last few characters as the victim's address. This can deceive the target into believing that they are interacting with a familiar address and instead send funds to the attacker's wallet.

SIM3 Solution:

  • To counteract such threats, SIM3 adopts an innovative strategy that conceals the association between transactions and their corresponding wallet addresses. Additionally, SIM3 proactively scrutinizes all wallets for any signs of impersonation attempts, alerting users to potential risks. It further strengthens security by concealing zero-value transfers, thereby bolstering the safeguarding of user transactions against such deceptive attacks.

How It Works:

  • The system monitors transaction patterns and flags any suspicious wallet addresses that mimic the user's regular contacts. Upon detection, the user will be notified and the suspicious wallet address is then blacklisted preventing accidental funds transferred.

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