ProxyAddress attribute is used by different applications and it can store different type of user addresses (sip, smtp, x500).
If you sync accounts with non-verified domain to O365, those addresses can be replaced with the default onmicrosof.com domain.
Some interesting reading regarding this topic:
ADConnect not Syncing ProxyAccount for email Alias from on Premise AD to Azure AD
List of attributes that are synced by the Azure Active Directory Sync Tool
A mail user who has proxy addresses that use non-verified domains isn’t synced in an Exchange hybrid deployment
Wrong domain address when synchronizing from on premise AD
Azure AD Connect sync: Attributes synchronized to Azure Active Directory