� How to Avoid Crypto Scams? Part 1: Drainers

Scams are becoming more common in crypto due to decentralization and anonymity. Fraudsters continuously improve their tactics that even experienced users fall victim.

Knowing how to protect yourself is essential, that’s why we’ve prepared a series on the most common scams.

Today, we’ll focus on drainers.

What is it?

Drainer is a malicious script that disguises itself as a routine wallet operation, designed to steal your funds. You can recognize it by an unexpected confirmation request that includes:

• Unknown addresses you've never seen before.

• Suspicious amounts or fees.

• Extra data that isn’t typical for standard transactions.

� How does it work?

1. Scammers embed the drainer into the transaction.

2. Victim confirms the fraudulent operation.

3. All funds from the wallet are transferred to the scammers.

� How to protect yourself?

1. Do not store all your funds in one wallet. Distribute your assets across multiple wallets.

2. Use separate wallet for lesser-known projects, games, “tap-to-earn" apps, etc.

3. Always double-check transaction details, especially the total amount and fees.

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� What scam should we explain next? Let us know below ⤵

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