Updated October 2026 · Fraser Bond
Fraud · Ethereum
Recovering scammed Ethereum
Revokeapprovals
Etherscantracing
Drainers& phishing
Exchangesfreezes
In short: Ethereum scams often use "wallet drainers": fake sites that trick you into signing a transaction giving a scammer permission to move your tokens. First, revoke any token approvals you don't recognise using a reputable approvals checker, move remaining assets to a fresh wallet, and stop using the compromised seed phrase. Then trace where the funds went on Etherscan. If they reached a centralised exchange, report it to the exchange and the police quickly. Stablecoins like USDC and USDT on Ethereum can sometimes be frozen by their issuers.
What to do
1
Revoke approvalsCheck and revoke unknown token approvals.
2
Move remaining fundsTo a new wallet with a new seed phrase.
3
TraceFollow the transaction hash on Etherscan.
4
ReportExchange, police and the FCA.
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What is a wallet drainer?
A malicious contract or site that takes your tokens after you sign a request.
Can ETH be reversed?
No, but funds can sometimes be frozen at exchanges.
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