Approval Scam
A scam that tricks users into approving token spending for a malicious contract, enabling fund theft.
A scam that tricks users into approving token spending for a malicious contract, enabling fund theft.
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Sep 2026 · Punteggio di freschezza: 50%
What is Approval Scam?
A scam that tricks users into approving token spending for a malicious contract, enabling fund theft.
- Category
- concept
- Type
- Authority Node
- Sources
- 1
The attacker presents a fake dapp, airdrop claim, or phishing page that asks the victim to "connect wallet" and sign an approval transaction — often disguised as a normal interaction. Once the victim approves a large allowance for the attac
Approval scams are among the most common and damaging crypto thefts because they look legitimate and require no key compromise. A single careless signature can empty a wallet. Education about what an approval transaction is, plus tools to a
Knowledge Graph
21 relations1. What Is an Approval Scam
An approval scam is a type of crypto theft where a malicious site or contract tricks a user into approving a spending allowance, then drains their tokens. It exploits the ERC-20 approve mechanism instead of stealing private keys.
2. How It Works
The attacker presents a fake dapp, airdrop claim, or phishing page that asks the victim to "connect wallet" and sign an approval transaction — often disguised as a normal interaction. Once the victim approves a large allowance for the attacker's contract, the attacker calls transferFrom to move the tokens. Victims may not realize anything is wrong until the balance is gone.
3. Why It Matters
Approval scams are among the most common and damaging crypto thefts because they look legitimate and require no key compromise. A single careless signature can empty a wallet. Education about what an approval transaction is, plus tools to audit and revoke allowances, is essential defense.
4. Key Facts
- Attack vector: fake websites, phishing links, malicious token claims
- "Infinite approval" grants unlimited spending power
- Revoke.cash and similar tools let users audit and revoke allowances
- Hardware wallet screens that show "approve" should be scrutinized carefully
5. Related Concepts
- allowance
- token-approval
- smart-contract-risk
- honeypot
Frequently Asked Questions
What is Approval Scam?
A scam that tricks users into approving token spending for a malicious contract, enabling fund theft.
How does Approval Scam work?
An approval scam is a type of crypto theft where a malicious site or contract tricks a user into approving a spending allowance, then drains their tokens. It exploits the ERC-20 approve mechanism instead of stealing private keys. The attacker presents a fake dapp, airdrop claim, or phishing page th
Why does Approval Scam matter in Web3?
- token-approval - smart-contract-risk - honeypot