Due to the increasing instances of scams involving various old projects (like LZ, formerly BSCX, which was hyped up even during the previous bull market), I decided to put together a guide. There have also been more cases of scams with NFT projects through rug pulls (scam signatures). Just last night, there was an attempt to scam the Grimsz project, which initially seemed like a gem…
They hyped it up on Twitter. With a super active Twitter, a giveaway of 7 ethers, a closed Discord, a legend about a top team — and then suddenly, the project gets scammed overnight. And not very successfully, only for 2 ethers… They suddenly announced a mint and encouraged minting through the phone, because there wouldn’t be a warning from MetaMask about the scam signature (yes, MM can do that now)…
If a project suddenly announces minting and pushes some dubious stuff (like forcing minting through the phone), it’s definitely a RED FLAG. Cool NFT projects are built and grow their community for months!
Here’s are useful tools, transaction checking tools, that will help you avoid crypto scams: Pocket Universe or Fire. They help to evaluate the results of your transactions before you confirm them in MM.
So, let’s figure out how to properly do a FULL wallet cleanup:
- Go to Unrekt or Revoke.Cash connect the wallet you want to clean, and revoke the entire list. You’ll have to click on each one individually. Do this specifically to remove signatures or approvals of protocols/services/sites you’ve ever connected to and approved. If you don’t do this, the protocol will still have access to your wallet, even if you disconnect the wallet from the site.
- Next, go to the browser version (in Chrome / Brave) of MetaMask, open it in a minimized state, click on the three dots in the top right corner, click on connected sites, and disconnect all.
- Then, go to MetaMask with your seed phrase in the MOBILE VERSION of the wallet. Click on the three vertical bars in the top left corner. Then “Lock”, it kicks you out of the wallet. Then at the bottom, there will be a “Reset Wallet” button. Click it and type Delete. This will completely clear your wallet from all connected sites (but won’t remove signatures, we removed those in the first step). Also, keep in mind that after resetting the wallet, all manually added networks and tokens disappear. You’ll have to add everything again.
That’s it, your wallet is clean and pure again!
I recommend doing this at least once every couple of months, especially in a Bear market when the market is getting rid of crappy projects… BSCX is a prime example! Many dealt with it during the bull market, connected their wallets, and forgot to Revoke! A year later, it backfired on them, resulting in loss of funds… I, on the other hand, avoided this because I regularly clean my wallets.
And I’d also like to give a basic piece of advice, I don’t know why many people overlook it. Create a 24-word seed phrase through SafePal, write down the seed immediately on a piece of paper (no notes on the phone, screenshots, etc.), put the paper in a safe or memorize the seed. Put all your bank there and don’t expose the wallet anywhere, don’t connect it to anything. Create a separate wallet for activities and don’t keep much money there, just the necessary amount for operations. Don’t keep money on exchanges! That’s all from me! Don’t forget about security and stick to some rules. Happy farming!
