
Smart Contract Scams: How Wallet Drainers and Fake Approvals Work
Smart contract scams use code—often disguised as a useful decentralized app (dApp)—to trick you into giving permission to move or spend tokens from your wallet.
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Clear explanations of common gold and crypto scams with red flags to watch for and ways to protect your wealth.
Scams are one of the biggest threats to both new and experienced investors. At Veldt, we’ve created this category to help you stay informed about the most common gold scams and crypto scams that target people moving between precious metals and digital currencies.
On the gold side, you’ll learn how to identify counterfeit coins, fake bullion offers, and misleading dealer practices that can drain your savings.
On the crypto side, we dive into real-world scams that have stolen millions, such as copy-paste malware that changes your wallet address, fake exchanges that disappear with your funds, and malicious smart contracts designed to drain wallets. You’ll also find guidance on safe private key storage and how to protect yourself when using hardware wallets, cold storage, or decentralized apps.
By learning how gold scams and crypto scams work, you’ll be ready to protect both your precious metals and your digital assets.
Smart contract scams use code—often disguised as a useful decentralized app (dApp)—to trick you into giving permission to move or spend tokens from your wallet.
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