Security researchers warn of active USDC approval scam ('ETH-BASE' fake liquidity mining) with drainer contract 0xfa13960c7D15295f1e005B2DB67e8cB475c2e4a3; users advised to revoke approvals immediately.
Security & Exploits ·
Security researchers have identified an active scam targeting users through fake liquidity-mining schemes labeled "ETH-BASE." Victims granted unlimited USDC approvals to a drainer contract at address 0xfa13960c7D15295f1e005B2DB67e8cB475c2e4a3, putting their tokens at risk of theft. A full investigation has been conducted and the incident reported to the FBI's Internet Crime Complaint Center.
Token approvals—permissions that allow smart contracts to move funds on a user's behalf—can be exploited if granted to malicious contracts. Once an approval is set, funds remain vulnerable indefinitely unless explicitly revoked. Users affected by this scam are being advised to revoke the dangerous approval immediately through tools designed for this purpose.
It remains unclear how many wallets were compromised or the total value at risk. The investigation report and ongoing monitoring will likely reveal whether additional approvals or attack vectors were used against victims. Users should also assess whether their seed phrases were compromised, as a broader wallet breach would require abandoning the affected account entirely.