If you think phishing attacks are just about sketchy emails asking for your Netflix password, think again—web3 has its own breed of phishing scams, and hackers are cashing in.
There were hundreds of millions lost to crypto scams last year alone—more than what most DeFi projects raise in funding rounds. That’s enough money for a hacker to retire in the Maldives…and still afford unlimited governance token buyouts.
But hey, your Metamask is secure, right? You definitely won’t click that “Claim Airdrop” link, right? Right?
Let’s break down the five most dangerous phishing attacks in web3—and how you can protect yourself.
- Fake Airdrops & Drainer Links—Who doesn’t love free money?
Airdrops are like free money raining from the sky—except when they’re not. Scammers take advantage of this excitement by sending DMs or phishing emails claiming, “Congrats! You’ve been selected for an exclusive airdrop.” They often impersonate well-known projects, making it seem like you’ve won tokens from a legitimate protocol.
Clicking on the provided link takes you to a near-perfect replica of the real dApp, designed to trick you into connecting your wallet. Everything looks legitimate until you’re asked to approve a transaction—which, unbeknownst to you, grants unlimited access to your funds. The moment you sign, your wallet is drained, and the scammer disappears with your assets.
How to stay safe:
To avoid getting rugged by a fake airdrop, never connect your wallet to random websites claiming to distribute free tokens. Before interacting with any airdrop, verify announcements from the project’s official website or social media handles. Scammers often use lookalike domains, so double-check URLs before proceeding.
Pro tip: For extra safety, use a burner wallet—a separate wallet with minimal funds—to test new platforms before using your primary wallet. This way if you fall for a scam, the damage will be minimal.
- Fake Customer Support Scams (Discord, Telegram & Even Calls!)
Ever had a stuck transaction or faced an issue with a dApp? Scammers are more than happy to ‘help’—except their “assistance” ends with you losing your funds. These scams often start when you post a question in a project’s Discord or Telegram community, looking for help. Within minutes, a fake admin or moderator will slide into your DMs, pretending to be from the official support team. They’ll offer step-by-step guidance and direct you to a fake troubleshooting website that looks identical to the real thing.
But these scams aren’t limited to social media DMs anymore—now they’re calling victims directly. A recent case involved a highly professional scammer impersonating Binance’s fraud department. The victim was told there was a suspicious login attempt, received fake verification emails and texts, and was then “transferred” to a Coinbase representative—who was just the same scammer using a different voice. Their end goal? Trick victims into revealing sensitive information and drain their wallets.
Many users fall for this because scammers mimic real customer service interactions, create a sense of urgency, and use fake verification steps to lower your guard. Whether through DMs, fake websites, or phone calls, their tactics are getting more sophisticated.
How to stay safe:
NO REAL ADMIN OR SUPPORT TEAM MEMBER WILL EVER DM OR CALL YOU FIRST. IF THEY DO, IT’S A SCAM!
When seeking help, only use the project’s official support channels—announced on verified websites and social media. If someone claims to be support but refuses to help publicly in the main chat, that’s a red flag.
Pro tip: NEVER share your seed phrase—not even with “official” support. No legitimate project or wallet provider will ever ask for it. If someone does, report and block immediately.
- Fake Wallet Updates & Malicious Browser Extensions
Hackers love impersonating popular crypto wallets like Metamask, Trust Wallet, and Phantom. They know that users panic when they see urgent security alerts, and they exploit that fear to trick you into installing malware.
It usually starts with an urgent email or pop-up notification claiming your wallet needs an immediate update. The message will contain a link to download the latest version, but instead of an official update, you unknowingly install a malicious browser extension or fake wallet app.
Everything seems normal—until the next time you access your wallet. The fake extension secretly logs your private keys and seed phrase, sending them straight to the hacker. Within minutes, your funds are gone.
How to stay safe:
Only download wallets and extensions from official sources. Go directly to the wallet provider’s website—never trust random links from emails or pop-ups. Enable automatic updates instead of manually downloading files. Legitimate wallets will update themselves—no need to install anything manually. Bookmark official wallet websites to avoid accidentally landing on phishing clones that look identical to the real thing.
Pro tip: If you ever get an email or message pressuring you to update your wallet immediately, treat it as a red flag—double-check with official sources before taking any action.
- Fake Token & Liquidity Pool Scams
If there’s one thing scammers have mastered in web3, it’s making fake tokens look legit—and before you know it, your funds are gone faster than your fees on a congested network.
Scammers launch tokens that look like the real deal—often using familiar names like $ETH2, $SHIBA20, or $AIRDROP to fool unsuspecting investors. They quickly add liquidity, create hype on Twitter, Telegram, and Discord, and watch as degens ape in without a second thought. The moment enough people buy in? Boom. Liquidity pulled. Token worthless. You’re rugged.
How to stay safe:
Before you throw your hard-earned crypto into a “hot new project”, take a step back and verify contract addresses through official project channels and don’t trust random links. Use a blockchain explorer like Etherscan, BSCScan, or SolScan to check token contract activity and liquidity locks. Also, DYOR before FOMOing in—if there’s no real dev team, no roadmap, and no transparency, it’s probably a scam.
- Approval Phishing (Malicious Smart Contracts)
Not all scams require your seed phrase—sometimes, a simple signature is all it takes for hackers to drain your wallet. It starts with a fake NFT mint, DeFi yield farm, or airdrop opportunity that appears promising, says to provide huge rewards, or gives exclusive access. Everything looks legitimate, so you eagerly connect your wallet and approve the transaction.
What you don’t realize is that the smart contract you just approved has full access to your tokens. Unlike a one-time transaction, this approval gives hackers ongoing permission to transfer funds from your wallet without you even noticing. By the time you check your balance, it’s already too late.
How to stay safe:
Always review ALL approvals carefully before signing. If you don’t understand what you’re approving, don’t sign it. Use https://revoke.cash/ or Etherscan’s Token Approval Checker to remove unnecessary contract permissions and limit your exposure.
Last but not the least: Do Your Own Research (DYOR) before connecting your wallet to any new project, mint, or yield farm. If something seems too good to be true, it probably is!
One careless signature can hand over control of your funds—so think before you click.
Final Thoughts
Web3 scams aren’t just evolving—they’re practically training for the Olympics at this point. One day it’s a fake airdrop, the next it’s a “helpful” support agent sliding into your DMs. And before you know it, you’ve been rugged harder than a meme coin in a bear market.
So, how do you NOT end up as someone’s exit liquidity?
- Use hardware wallets for high-value assets—because hot wallets are called “hot” for a reason (hint: they get burned).
- Never share your seed phrase—even if “official support” swears on their imaginary grandma that it’s safe.
- Enable transaction alerts—because finding out you got drained AFTER the fact is the Web3 equivalent of realizing you left the stove on.
- Question everything—if it’s too good to be true, it’s probably a one-way ticket to “rekt-ville.”
TL;DR:
Hackers aren’t hacking you. They’re tricking you into hacking yourself.
So stay paranoid, stay skeptical, and for the love of crypto, STOP clicking random links!
Want to know if your security is as strong as you think it is? Take a FREE PulseCheck security assessment and find out where you stand before hackers do.
About the Author
Rhythm Jain is the Marketing Development Manager at Resonance Security, bringing several years of experience in marketing and business development. As a cybersecurity enthusiast turned marketing professional, he specializes in crafting strategies that amplify brand presence and drive user engagement across web2 and web3 ecosystems.
Social Media Copy:
Web3 phishing scams are getting ruthless! From fake airdrops to malicious wallet updates, hackers are cashing in on unsuspecting users.
Read the 5 biggest phishing attacks in crypto & how to protect yourself👇
[Insert Blog Link]
.png)