Is the growth in Ethereum activity genuine? Understanding the situation with 3.86 million compromised wallets

Ethereum has recorded impressive activity figures, particularly a 170% increase in new addresses and a 63% rise in weekly transactions. However, roughly 80% of this surge is linked to stablecoins and address poisoning tactics, pointing to misleading statistics.

The Fusaka upgrade has dramatically decreased ERC-20 transfer fees, which enabled a surge in address poisoning attacks, leading to significant losses for users. Attackers effectively exploited this situation, marking a concerning trend in Ethereum’s network.