Baskin Logic Crypto Academy

Scam library

Fake airdrops and approval drainers

By Joshua Baskin, founder · Reviewed · Sources

How it works

On many blockchains, apps need your permission to move a token. That permission is a token approval. Drainer kits dress up a malicious approval or signature as “claim airdrop” or “mint”. Once signed, they can take the approved tokens at any time, even weeks later.

Red flags

  • A token you never bought appears in your wallet with a link in its name.
  • The site urges you to claim fast.
  • Your wallet shows “set approval for all”, “permit” or an unlimited amount.
  • The domain is one letter off from the real project.

What to do

  1. Do not interact with unknown tokens.
  2. Read what your wallet says you are signing. If you do not understand it, reject.
  3. Review and revoke old approvals: see how to revoke token approvals.

In the US, report to the FBI at ic3.gov and the FTC at ReportFraud.ftc.gov. Elsewhere, report to your national police cyber unit and the platform involved. Keep screenshots, wallet addresses and transaction IDs.

Practise it

Train your eye in the Scam Spotter swipe game and the Wallet Security Escape Room.

Lesson game · earn XP

Check yourself: 3 quick questions

Perfect score = combo bonus. Each question returns in your spaced-repetition review.

Keep learning

Common questions

If I just connect my wallet, can I be drained?

Connecting alone usually only shares your address. The danger is signing an approval or transaction.

Does revoking get stolen tokens back?

No. It only stops future transfers.

Sources

  1. ethereum.org: How to revoke smart contract access to your crypto funds
  2. FTC: What to know about cryptocurrency and scams
  3. Etherscan: Token approval checker

Sources checked October 23, 2026. Rules change; check the official source before acting.

Education only. Not investment, tax or legal advice. We do not pick coins.