Wallet Drainer
A wallet drainer is a phishing kit that tricks users into signing approvals or transfers that empty their wallet.
What Is a Wallet Drainer?
A wallet drainer is malicious code on a fake website, often a copy of a real project or a fake airdrop or mint page. When the visitor connects a wallet, the drainer reads the balances and asks for the signatures that move the most valuable assets: token approvals, permit signatures, NFT approvals for all or plain transfers.
Drainers do not need the seed phrase, and a hardware wallet does not stop them by itself: the user signs on the device. What protects is reading what the device shows, preferring wallets and apps with clear signing, rejecting unexpected approvals and off-chain permit messages, and revoking old approvals.
Drainer kits are sold as a service to scammers, so the same patterns appear across thousands of sites.
An airdrop is a free distribution of cryptocurrency tokens to numerous wallet addresses, often to promote a project, reward users, or build community.
Read full definitionA token approval lets a smart contract spend a set amount of your tokens. It stays active until it is used up or revoked.
Read full definitionAn NFT (Non-Fungible Token) is a unique digital asset stored on a blockchain, representing ownership of a specific item, such as artwork, music, or virtual goods.
Read full definitionA mnemonic phrase is a set of words that stores a cryptocurrency wallet's private keys, allowing users to recover access if lost.
Read full definitionClear Signing is a process in blockchain where transaction data is displayed in human-readable form before being signed, ensuring transparency and preventing blind signing risks.
Read full definitionReal-World Examples
Example 1: A fake airdrop page asks for a "claim" signature that is actually a permit for all of the user's USDC.
Example 2: The hardware wallet shows an approval for an unknown spender with an unlimited amount, and the user rejects it.
An airdrop is a free distribution of cryptocurrency tokens to numerous wallet addresses, often to promote a project, reward users, or build community.
Read full definitionA stablecoin is a cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the US dollar or backed by reserves.
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