MetaMask Scam Exposed: $107K Drained from Hundreds of Wallets – Must-Check Steps Before Any ‘Update’
MetaMask Scam Exposed: <$107K Drained> from Hundreds of Wallets – Must-Check Steps Before Any ‘Update’
In the fast-paced world of crypto, staying safe is key. A recent phishing attack tricked hundreds of MetaMask users into losing over $107,000. Fake emails promised a ‘mandatory update’ but led to drained wallets. This guide breaks down what happened, how to spot these scams, and simple steps to protect your funds.
What Happened in the <$107K Drained> Attack?
On-chain investigator ZachXBT spotted a big problem. Hundreds of wallets on EVM chains like Ethereum lost small amounts, usually under $2,000 each. All the stolen crypto funneled to one shady address. The total hit $107,000 and kept growing.
Users got phishing emails pretending to be from MetaMask. The subject line said “Happy New Year!” with a cute fox logo wearing a party hat. It claimed users needed to update their wallet right away. This hit during holidays when people were busy and less alert.
The scam worked because it stole contract approvals, not full seed phrases. Attackers took small bites to avoid big alarms. One signature from a victim let them drain tokens over time across chains.
How Did the Phishing Email Fool So Many?
The email looked real. Sender name: “MetaLiveChain” – sounds techy but fake. Unsubscribe link pointed to a weird domain. Body had MetaMask’s fox with holiday flair and urgent words about an update.
MetaMask never sends emails like this. Official support uses addresses like support@metamask.io. They don’t ask for updates via email or seed phrases. But the pro look tricked users into clicking.
4 Red Flags to Spot Phishing Before It’s Too Late
- Sender Mismatch: Brand like MetaMask from odd names like MetaLiveChain? Fake.
- Fake Urgency: ‘Mandatory update now!’ MetaMask says they don’t send these.
- Bad Links: Hover over URLs. If it doesn’t match metamask.io, don’t click.
- Rule Breakers: Asking for seed phrases or blind signatures? Never do it.
Spot these, and you stay safe. Victims clicked links, landed on fake sites, and signed approvals giving attackers token access.
Act Fast: How to Revoke Approvals and Stop Drains
If you think you signed something bad, revoke approvals now. MetaMask Portfolio shows your token allowances. Revoke shady ones inside the app.
Use free tools:
- Revoke.cash: Connect wallet, check per chain, revoke bad contracts. Simple and free.
- Etherscan Token Approvals: View and cancel ERC-20, NFT approvals manually.
Quick action can save your funds. If seed phrase leaked, make a new wallet on a clean device. Move safe assets and ditch the old one.
Why Small Drains Add Up to Big Losses
Attackers take $1,000-$2,000 per wallet. Unlimited approvals let them grab what they want without emptying everything. Hundreds of hits = $107K+. Chainalysis says 158,000 wallet hacks in 2025 stole $713M total – more victims, smaller hauls.
Build a Strong Defense: Wallet Tips That Work
Don’t put all eggs in one basket. Use a 3-tier system:
- Cold Storage (Hardware Wallets): Ledger or Trezor for big holdings. Offline = safe.
- Warm Wallets (MetaMask): For daily trades. Set spend caps on approvals.
- Burner Wallets: Small amounts for risky DeFi tests.
Extra layers:
- Enable Blockaid in MetaMask for scam alerts.
- Review approvals monthly.
- Use De.Fi Shield for dashboard checks.
- Ignore unsolicited wallet emails.
Friction slows scams. A burner loss hurts less than your full portfolio.
Lessons from Trust Wallet Hack Too
Separate issue: Trust Wallet Chrome extension v2.68 had bad code stealing keys. Drained $8.5M from 2,520 wallets. Patched in v2.69. Proves even official tools can fail. Always update from real sources.
Self-Custody Means User Responsibility
Crypto gives freedom but no safety nets. Scammers use fake emails, cloned logos, drainer contracts. Education helps, but attackers evolve fast. From basic ‘wallet locked’ to holiday specials.
Wallets add tools, but you must use them. One hot wallet for everything? Risky. Segregate, revoke, verify.
Stay Ahead: Your Crypto Security Checklist
| Action | Why It Helps |
|---|---|
| Hover links always | Reveals fake URLs |
| Check sender email | Matches official? |
| Revoke approvals weekly | Blocks old access |
| Use hardware for HODL | Offline protection |
| Multiple wallets | Limits damage |
Final Thoughts on
The <$107K Drained> from hundreds shows scams target easy wins. But with checks before any ‘update’, you can fight back. Prioritize security over speed. In crypto, one click can cost thousands – but smart habits save millions.
Share this if it helps. Stay safe out there.
