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Ok, so I think I may have bought a scam token on Uniswap. Is there any way to outsmart the scammer?

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by COINS NEWS 142 Views

I’ve been into crypto for a long time, so I should have know better. However, after a few drinks last night, fomo kicked in and I couldn’t resist buying a shitcoin. (Prefer not to say which token it was)

So here’s how I bought the coin. I created a new MetaMask account on my phone (I always use hardware wallets, so all my other funds are safe). I sent some Eth to my MetaMask wallet (iOS) from my exchange account and bought the token on Uniswap. I added the custom token and the tokens landed in the wallet. I made sure I only left enough Eth for gas for when I sell them, just in case this type of thing happened. It’s my standard protocol when doing something risky.

Anyway, this evening I went to sell the tokens on Uniswap for a 100% profit, but as I was about to approve the swap in MetaMask, it gave me the message saying “Give permission to access your -TOKENNAME Access up to - 115,792,089,237 etc etc.” which is the first time I’ve seen this. When I saw it pop up on the screen, I realised I may have screwed up.

Now my question is this. If it is a scam, is there a way to outsmart the scammers? Can I approve the transaction for the sale, get the Eth into my wallet, and then quickly revoke the account somehow? Or will the wallet be drained of the Eth and sent to their wallet instantly? If I approve the Uniswap transaction, how does it work? Does money come from the pool into my account then they drain my wallet, or does the money go directly into their account?

Also, I don’t have tokens in my wallet address, however I do have a small amount of Eth ($60) in another account under the same seed. This other account hasn’t interacted with any contracts or uniswap, so I think I’m safe with that.

Feel free to comment if you think otherwise.

submitted by /u/sleepyjoeyy
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