2024

Ethereum

Satoshi

Binance chief marketing officer Eowyn Chen says crypto users should make one small move before sending a large payment: test the address first.
Speaking on The Sujal Show, which <a href="https://www.youtube.com/watch?v=ibQpXM980io" rel="noopener noreferrer nofollow">premiered </a>Oct. 1, Chen said users can reduce the risk of sending funds to the wrong wallet by making a small test transaction before transferring the full amount.
<blockquote>
 “I think one simplest thing that people remember is just to do a so-called Satoshi test, meaning that do not send your full amount,” said Chen, who previously served as CEO of Trust Wallet.
</blockquote>
Because cryptocurrencies can be divided into small amounts, Chen suggested sending about $1 first and checking that it reaches the intended wallet.
<blockquote>
 “Once you verify it, send it the large amounts,” she said. “Just use your one dollar to check if that’s actually the right address.”
</blockquote>
The practice is particularly useful because blockchain transfers are generally irreversible. Sending funds to an incorrect address can therefore result in a permanent loss.
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<h2 id="address-poisoning-raises-the-stakes">Address poisoning raises the stakes</h2>
Chen highlighted address poisoning as one reason for taking extra precautions. In such attacks, scammers create wallet addresses resembling ones that victims have previously used, hoping they will copy the fraudulent address from their transaction history.
Research <a href="https://arxiv.org/pdf/2609.23405" rel="noopener noreferrer nofollow">published </a>in September analyzed Ethereum activity between November 2022 and May 2025 and identified 4,209 victim transfers totaling about $166.3 million from address-poisoning attacks.
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One May 2024 incident involved a victim mistakenly sending 1,155 wrapped Bitcoin worth about $70 million to an address whose first and last characters closely matched the intended recipient. The funds were later returned.
Chen said wallet providers are increasingly adding tools to compare recipient addresses against previous transactions, but users still need a simple safeguard.
“You never know what the new tricks are, that’s why Satoshi test is still the gold standard.”
<a href="https://www.thestreet.com/crypto/markets/if-you-invested-1000-in-bitcoin-when-trump-took-office-in-2017-vs-2025-heres-how-much-youd-have-made-or-lost" rel="noopener noreferrer nofollow">Related: If you invested $1,000 in Bitcoin when Trump took office in 2017 vs 2025, here's how much you'd have made or lost</a>

Binance CMO reveals the 'Satoshi Test' for safer crypto payments

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