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Be careful of this new type of scam. Scammers use gas tokens to steal money when victims revoke "fake approvals".

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by COINS NEWS 57 Views

There is a new type of scam out there where it drains your wallet if you revoke a fake approval. This is one the scarier scams because people revoke tokens all the time and it's considered as a way to safeguard your wallets.

These scammers created fake tokens that they airdropped and created fake approvals for these tokens, which people think they need to revoke.But the scammers programmed these fake tokens so that it mints a lot of gas tokens during a revoke transaction. These gas tokens are then sent to the scammers, who can sell them. This is scary because your wallet popup will not show that you're sending funds, just a high fee.

Revoke cash will now add a note to revoke that costs high gas and that might help you realize it's a scam revoke.

You can read more about this new type of scam directly from revoke cash - https://twitter.com/RevokeCash/status/1677950707104894977?t=gN9NqF7GOri7bLMpB2XnRg&s=19

submitted by /u/NaturephilicReaction
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