2026-01-20 08:26:19

The Ethereum network has recently been quite active, with on-chain activity reaching a record high. However, there is an interesting phenomenon behind this — security analysts have pointed out that some of the activity may be due to "address poisoning" type spam attacks.

The data is in front of us: since January, the number of new addresses and transaction volume on Ethereum have surged significantly. It looks prosperous, but there are hidden risks. The real turning point was the Dencun upgrade. After the upgrade, Ethereum's Gas fees dropped by over 60%, which sounds like a good thing, but also opened a door — low costs make large-scale spam attacks increasingly cost-effective.

Further research data shows that this type of poisoning attack has already accounted for a considerable proportion. In other words, not all network prosperity represents genuine ecological activity. On-chain activity is indeed increasing, but the quality varies. For those trying to assess the true health of the Ethereum ecosystem, this is a noteworthy signal.

ETH-3,94%

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CrashHotline

· 4h ago

Gas fees are so cheap that it has become a paradise for trash tokens, how ironic. Happy just because the numbers look good, but who really checks what those transactions are for? So now looking at on-chain data should come with a question mark; the actual activity might not be as high as imagined. The Dencun upgrade was originally a good thing, but it ended up being used as a trash dump. Don't just look at the number of new addresses; you need to see what these addresses are actually doing. This is why it's too risky to only look at surface data; you need to dig deeper. Happy when activity hits a new high? Let's see who is actually active.

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GoldDiggerDuck

· 5h ago

It's the same story again. When Gas prices are low, it becomes a paradise for wash trading, and the data looks ridiculously good. Real activity is probably more than halved... It's interesting that they don't mention garbage transactions when bragging about prosperity. So how much of this activity is fake? Fifty-fifty? The Dencun upgrade is a good thing, but it’s definitely been exploited. The data looks impressive, but what exactly is inside? It feels like every time on-chain data surges, a note in parentheses is added... This is called "false prosperity," and we've seen it all before.

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MerkleDreamer

· 5h ago

Gas prices have become cheaper, but it has actually attracted a bunch of spam users to flood the data, which is ridiculous... It seems that the activity is actually quite inflated.

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AirdropChaser

· 5h ago

Haha, that's why I say you can't just look at the data, all these trash addresses are just trying to make a presence. Gas is cheaper, but it has become a paradise for attackers, quite ironic. The Dencun upgrade is a double-edged sword; costs have decreased but the ecosystem has also been polluted. Watching the excitement, but it's all just false prosperity, exhausting. The high proportion of poisoning attacks this time raises questions about true activity. On-chain activity is high, but the quality is disappointing, a bit embarrassing. Where are the real users? They are drowned out by these trash.

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AirdropCollector

· 5h ago

Uh... So is this wave of activity actually just garbage? It's a bit embarrassing. --- Gas prices dropping actually invites trouble; upon reflection, it's indeed ironic. --- With such rampant poisoning, can we still trust the data? We need to learn to discern. --- Another case of "looks great but actually very risky," old tricks again. --- The Dencun upgrade was well-intentioned, but unexpectedly turned into a free attack tool. --- The uneven quality is real; this is exactly why I remain skeptical of on-chain data. --- It feels like now analyzing transaction data is like looking at edited images, all just tricks. --- This is the real problem—the most frightening thing is false prosperity.

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MoneyBurner

· 5h ago

Damn, the drop in Gas fees actually makes me more anxious... This false prosperity built on these garbage addresses, why didn't anyone clarify this earlier?

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GasFeeNightmare

· 5h ago

Here we go again, cheap gas has become a paradise for spam... I was wondering why there are so many strange addresses after the Dencun upgrade, and now there's data to confirm it. Is the poisoning ratio so high? Then how many of the transactions I monitor every night are fake?

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