you received 30000 ScamToken
You go on Uniswap, paste the address, and notice that 30k ScamToken = 0.3 ETH
You click approve to allow Uniswap to spend the ScamToken and swap them
The approve transaction fails — etherscan/metamask shows "Visit ScamWebsite to claim your tokens" as the reason for the transaction failure
You go on the website, it has a UI similar to the stuff you're used to in DeFi, you connect your wallet and click claim
Website scans your wallet, detects that you have 750 USDC (or some other token)
The claim transaction is actually a transaction that allows the website to spend your USDC, hoping you'll just click confirm out of habit — But MetaMask will say "Allow scamwebsite to spend your USDC token?", ALWAYS double check this! For any transaction!
Website drains your USDC
the token has a super high value on Uniswap because the scammer put some small initial liquidity that gives the token an arbitrary price that can never actually be sold because the ERC20 contract doesn't allow for approvals/transfers/etc. it's just coded to make you go to their shady website
Thank you for sharing that 👍🏼
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