Revoke.cash began receiving messages from people whose transaction histories showed up with approvals of unknown transactions. Experts warned users that this is a new scam: scammers use gas tokens to steal assets when victims withdraw fabricated endorsements.
Fraudsters hand out these tokens with fake endorsements. The calculation is to make users believe that they really have approved suspicious transactions. Tokens are programmed so that a large amount of gas is generated during a recalled transaction, and newly created gas tokens are sent back to the fraudsters. In this case, victims have to pay excessively high commissions.
Revoke said it solved the problem by adding a verification feature that disables revocation of approved transactions if too much gas fee is present. Experts have recommended that users ignore fake endorsements.
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“The best thing you can do about these fake endorsements and tokens is to simply ignore. As long as you don’t interact with them, fraudsters won’t be able to steal your funds,” Revoke experts warned.
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In early July, attackers managed to hack the DeFi project, generating billions of cryptocurrencies “out of thin air” on different blockchains.