Thank you webnirman. I had the exact same problem.
I would have to agree with lorro. Woocommerce is great, but has known issues with sending emails, so Easy WP SMTP is a must in my opinion.
I have checked everything and it turns out that the last Easy WP SMTP update wiped all the config in Settings / Easy WP SMTP …..
This is what generated the persistent error message “Invalid address”.
So I re-entered the correct SMTP settings AND used the built in test functionality. It now works like a charm again.
p.s.: It also looks like Woocommerce still processed these failed attempts (“invalid address”) as normal orders. So I suggest you check out your orders and potential multiple charges to customers that were unable to complete the normal order process as a result.