CryptoGal Glossary
Approval Phishing
A scam where you unknowingly sign a wallet approval that gives an attacker permission to move your tokens whenever they want.
In crypto, some actions require you to “approve” a smart contract to touch your tokens. Approval phishing tricks you into signing an approval that hands over unlimited access. Nothing leaves your wallet at that moment. The attacker returns later and drains what they were approved to take.
How it works
You are invited to claim an airdrop, mint a free NFT, or connect to a slick-looking site. The signature request looks routine. Buried in the details is an approval for a token contract with unlimited allowance. Days or weeks later, your balance is gone.
Red flags
- Any site urging you to “connect and claim” something you never signed up for.
- A signature prompt asking for token “approval” or “allowance” on a site you do not trust.
How to protect yourself
Read every signature prompt slowly. Approvals are not sends, but they can be more dangerous. Use a wallet or tool that lets you review and revoke approvals regularly.
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