Protecting Yourself from Crypto Drain Attacks

[Chawla Solutions]

One of the fastest-growing threats in Web3 security is the drain tool attack, sometimes called a stealth hack. Victims often don’t even realize they’ve been compromised until their assets are already gone.

How It Works
The attack typically begins when a user connects a wallet to a malicious or compromised website. By approving an “unlimited allowance” transaction, they unintentionally grant the attacker ongoing access to their tokens. Later, the hacker uses a hidden contract to drain assets without requiring additional approvals.

Real-World Cases

• Hundreds of NFT holders have lost collections through sites that mimicked marketplaces like OpenSea.

• Even official Discord servers have been hijacked to spread malicious links leading to drains.

How to Protect Yourself

• Regularly use services like Revoke.cash to review and remove old approvals.

• Avoid storing valuable tokens or NFTs in hot wallets.

• Check the actual code of a transaction whenever possible, not just the front-end display.

• Use a hardware wallet for signing, which provides an added layer of protection.

Conclusion
Today’s hacks rely less on brute force and more on social engineering combined with invisible permissions. Always double-check what you are granting access to. In crypto, a single careless approval can cost you an entire portfolio.