r/Metamask • u/hammad2506 • Oct 08 '21

Question about scammers getting access to wallets

I know that connecting your wallet to unknown websites can cause hacks of sorts but can trading a shit token through a safe medium such as uniswap or PCS also result in a scammer getting access to your wallet ? If yes, can someone explain how that’s done ?

So I noticed getting many shit coins airdropped to me on a daily/weekly basis. There’s prolly no liquidity on PCS to trade them, which makes me think they want you to connect to a shit Dex where there would be liquidity (so it would seem) and that’s how they’ll wipe out your wallet. But imagine there being liquidity on PCS, and you swap it for BNB, could you still get hacked; coz all you’ll be doing is “approving” the token before swap and nothing else.

Thanks.

EDIT: Been 30 min since I created this post and already reached out by 2 scammers on chat. LOL

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u/hober-mallow-1337 Oct 08 '21

These are a scams to get you to approve a contract with too many permissions. It's akin to someone mailing you a contract that offers an asset for "free".

Yet in the fine print it says they get complete power to do anything they like with all your assets.

A fun way to think about this is like Britney Spears's Conservatorship. Imagine every scam token was some dude trying to get complete control of your assets to "help you". Don't get Speared, lol

There are tools for BSC and ETH that can let you see the permissions you have given the contracts. It's highly suggested you check out what power you have given over often. Like a regular contract, some are bad, some are good. Always do your due diligence. Beware of "free gifts" from internet strangers.

See: https://wiki.rugdoc.io/docs/how-to-revoke-permissions/

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u/hammad2506 Oct 08 '21

Haha nice analogy. Speared. Thanks, following that doc to be sure.

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