Common Web3 Phishing Styles

Reviewing common Web3 phishing styles currently used in the market. These malicious activities are especially prevalent when users interact with dApps using hot wallets.

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🕒 6:59 PM

📅 May 23, 2025

✍️ By ethangeorge

1.  Blind Signing

This involves users unknowingly authorizing transactions, leading to stolen funds. Most attacks exploit this method. Hackers post fake project links or airdrop claim websites in public places like well-known projects' social channels, luring users to click only to have their assets stolen.

Permit Signing Phishing

When a user visits a phishing website, the attacker tricks them into signing a "Permit" authorization. The attacker then uses the signed data to call the token contract's "Permit" function and broadcasts it on the blockchain, gaining access to the authorized tokens and stealing them. 

On-Chain Authorization

Hackers trick users into signing transactions like approve, increaseAllowance, decreaseAllowance, or setApprovalForAll, allowing them to transfer the user's tokens. After the user signs, the hacker monitors the account in real-time, transferring out any assets immediately upon deposit.


Uploading Recovery Phrase

Attackers often provide fake tools to induce users to upload private keys or recovery phrases. Especially when a project website crashes and the project team is unresponsive. 
I could recall when a certain pop up came on Pi app, promising users 300 pi coins as a bonus. Users who clicked on it were asked to submit their pi wallet seed phrase to receive 300 pi. Hundreds if not thousands of users fell victim. As a result, they lost all unlocked pi in their wallet. The hacker might still posses those victims' seed phrases for future theft. 

Impersonating Famous People

Some hackers also impersonate famous people on social media to scam users. A notable example is the large Twitter account hack where hackers posted messages asking followers to send cryptocurrency with the promise of returning double the amount.
Imagine a user sending an asset worth $5000 hoping to receive $10,000. 

Fake or Malicious Airdrops

Malicious airdrops are scams where attackers distribute tokens that contain malicious code. These airdrops can trick users into interacting with them, leading to potential loss of funds or private information.

Be cautious out there, dear crypto enthusiasts!