Ethereum Dusting Attacks Surge 300% Post-Fusaka Upgrade, Threaten Network Integrity

VADODARA, February 4, 2026 — Ethereum's Fusaka upgrade, intended to enhance scalability, has inadvertently triggered a dramatic rise in dusting attacks, according to a Cointelegraph report. This daily crypto analysis reveals that stablecoin-based dusting now accounts for 11% of all transactions, up from 3-5% pre-upgrade. Active addresses involved jumped to 26% from 15-20%. Market structure suggests lower transaction fees post-upgrade are the primary catalyst, but deeper on-chain forensic data raises questions about network resilience.

Investigation: The Fusaka Upgrade's Unintended Consequence

Following Ethereum's Fusaka upgrade in late 2025, dusting attacks using stablecoins have surged by approximately 300%. According to Cointelegraph, these attacks now represent 11% of total transactions and 26% of active addresses. Before the upgrade, figures stood at 3-5% for transactions and 15-20% for addresses. The increase directly correlates with reduced transaction fees, a core feature of the Fusaka implementation. Dusting involves hackers sending minuscule token amounts to random addresses to track wallet activity or cause disruption.

This trend contradicts the upgrade's goal of improving user experience. Lower fees should encourage legitimate activity, not malicious exploits. On-chain data indicates a systemic vulnerability, not just isolated incidents. The attack vector leverages stablecoins for consistency, avoiding price volatility that could alert users. Consequently, network congestion from spam transactions may offset the upgrade's efficiency gains.

Market Context & Historical Precedent

Historically, Ethereum has faced similar challenges post-upgrades. The Merge in 2022 reduced issuance but initially increased centralization risks. In contrast, the Fusaka upgrade's fee reduction has directly enabled a new wave of attacks. This mirrors patterns seen in Bitcoin's 2017 SegWit adoption, where lower fees spurred spam attacks before network adjustments.

Underlying this trend is a broader market in Extreme Fear, with the Crypto Fear & Greed Index at 14/100. Security concerns amplify negative sentiment, potentially delaying institutional adoption. Related developments include Ethereum ETFs seeing $15M net inflows despite fear, and a $1B USDT whale transfer signaling liquidity grabs. These events highlight how security issues intersect with macro liquidity cycles.

Technical Architecture & Price Action

Ethereum's current price sits at $2,270, down 3.10% in 24 hours. Technical analysis reveals a critical support zone at the $2,150 level, aligning with the 0.618 Fibonacci retracement from the 2025 high. This level must hold to maintain bullish structure. Resistance forms at $2,400, a previous order block where sell-side liquidity clustered.

The Fusaka upgrade's EIP-4844 implementation, which introduced blob transactions for lower fees, is central to this issue. While blobs reduce costs, they also lower the barrier for dusting attacks. Market structure suggests that without additional spam prevention mechanisms, network efficiency could degrade. RSI readings near 40 indicate neutral momentum, but volume profile shows increased activity in lower price ranges, signaling distribution.

By The Numbers

Why It Matters

This surge matters because dusting attacks threaten Ethereum's fundamental value propositions: privacy and security. For institutions, tracked wallets compromise compliance and operational security. Retail users face increased phishing risks and network spam. The 5-year horizon risks erosion of trust if upgrades prioritize scalability over robustness.

Real-world evidence includes potential regulatory scrutiny, as seen in South Korea's $9.6M investment in crypto tracking systems. Institutional liquidity cycles may pivot toward chains with stronger security postures. Market structure indicates that without fixes, Ethereum could see reduced developer activity and dApp migration.

Expert Commentary

"The Fusaka upgrade's fee reduction is a double-edged sword. While it boosts accessibility, it also lowers the cost of attack. Our on-chain forensic data confirms that dusting now represents a systemic risk, not just noise. The network must implement rate-limiting or proof-of-work elements for spam prevention to maintain long-term viability." — CoinMarketBuzz Intelligence Desk

Market Outlook & Price Scenarios

Two data-backed scenarios emerge from current market structure. First, if Ethereum holds the $2,150 support and addresses dusting via protocol updates, a rebound toward $2,800 is plausible. Second, continued attacks could break support, targeting $1,950.

• Bullish Invalidation Level: $2,400. A break above this resistance confirms trend reversal, invalidating bearish pressure from dusting concerns.
• Bearish Invalidation Level: $2,150. A break below this Fibonacci support invalidates the current structure, signaling deeper correction.

The 12-month institutional outlook hinges on Ethereum's response. If developers implement fixes like those outlined in Ethereum's official Pectra upgrade documentation, confidence may recover. Otherwise, capital could rotate to competitors, impacting ETH's market dominance.