Topic
What is a wallet drainer?
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- Quick fact 1
Criminals have posed as NFT developers to link victims to wallet-draining sites.
Source: FBI IC3 PSA: Criminals pose as NFT developers to drain wallets (Aug 4, 2023)
- Quick fact 2
Approvals you sign can let a contract move your tokens later.
Source: ethereum.org: How to revoke smart contract access to your crypto funds
- Quick fact 3
Fake sites, airdrops and support accounts are common lures.
The short lesson
A wallet drainer is a kit scammers use to empty crypto wallets. It sits behind a fake website, such as a mint, an airdrop claim or a “wallet check.” When you connect your wallet and sign what it asks, the drainer gets permission to move your tokens, and it moves them fast.
The trick is that you approve it yourself. The drainer does not need your seed phrase. It needs one signature.
Common lures:
- Fake mints and airdrops pushed through hacked social accounts or chat servers.
- “Your wallet needs to be verified or synced.”
- Fake support that sends you a link to “fix” a problem.
- Search ads that copy real project names.
Defenses:
- Do not connect your main wallet to new sites. Use a separate wallet with little in it.
- Read every signature request. “Approve,” “permit” and “set approval for all” are powerful.
- Revoke approvals you do not need. See What is a token approval?
Related terms
Go deeper in Lesson 9: What hurry and secrets look like
Common questions
Can a drainer take crypto without my seed phrase?
Yes, if you sign an approval or permit for its contract.
What should I do if I signed something bad?
Move what is left to a new wallet you control, revoke approvals, and report it at ic3.gov.
Does a hardware wallet stop drainers?
Not if you approve the request on the device. Read the device screen.
How do I find real project links?
Type the address yourself from a source you already trust. Be wary of links in posts and direct messages.