Phishing
Phishing is a scam where a fraudster poses as a real service or person to trick you into giving up your seed phrase, password or a transaction signature, often via a fake site.
How it works
The scammer builds a copy of an exchange or wallet site with a look-alike address, messages you as "support" or buys search ads. You type in your seed phrase, password or 2FA (two-factor) code, and they get instant access to your funds.
Crypto has its own twist: the site asks you not for a password but to sign a transaction in your wallet. That can be an approval that lets someone spend your tokens. Once you sign, a script called a drainer moves out everything the approval covers.
Blockchain transactions cannot be reversed, so stolen funds are almost never recovered. Protection comes from habits: check the address, slow down and never share secret data.
You get a direct message from "wallet support": "Your wallet is locked, verify it at this link." The site looks real and asks for your 12-word seed phrase. A minute after you enter it, all your coins move to someone else's address.
You search for a free token airdrop and connect your wallet to a site from an ad. It asks you to sign "Claim". In reality it is an approval to spend all your USDT, and 1,500 USDT leave your address.
The most common mistake is entering your seed phrase to "verify", "sync" or "unlock" a wallet. No real exchange, wallet or support team will ever ask for it. Open sites only from your own bookmarks, not from ads, emails or direct messages. Read what you are signing in your wallet, and if you do not understand it, reject it. Keep larger amounts in a separate wallet that you never connect to unfamiliar sites.
Questions and answers
What is phishing in simple terms?
It is when a scammer pretends to be a service or person you trust so that you hand over your password or seed phrase yourself, or sign a harmful transaction.
How do I spot a phishing website?
Check the address letter by letter: fakes differ by one character or by the domain ending. Be suspicious if the site rushes you, threatens a lock, promises a giveaway or asks for your seed phrase.
What should I do if I entered my seed phrase on a phishing site?
Immediately create a new wallet with a new seed phrase on a clean device and move whatever is left there. Stop using the old wallet: the scammer already has access to it.
Related terms
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Updated: 2026-10-19