Fake NFT marketplaces are phishing sites that impersonate real platforms to steal your wallet credentials or approval.
How They Work
- Scammer creates a site that looks like OpenSea, Rarible, or Blur
- Promotes it via social media, ads, or Discord
- You connect your wallet to “browse” or “mint”
- A malicious contract drains your NFTs or tokens
- Your assets are gone
Common Lures
| Lure | Example |
|---|---|
| Free mint | ”Mint our exclusive NFT collection!” |
| Rare find | ”Someone is selling a Bored Ape for 0.1 ETH!” |
| Platform migration | ”OpenSea is moving to a new domain — verify your collection” |
| Airdrop claim | ”Claim your free NFT airdrop” |
| Gas fee trick | ”Just pay gas to mint” (but the contract takes everything) |
How to Spot a Fake Marketplace
| Check | Real Site | Fake Site |
|---|---|---|
| URL | opensea.io | opensea-nft.xyz |
| SSL | Valid certificate | Valid but lookalike |
| Design | Polished, professional | Slightly off |
| Wallet connect | Standard flow | Asks for seed phrase |
| Trades | Active, visible | None or fake |
| Social links | Official, verified | Random accounts |
The Most Dangerous: Wallet Approval Scams
| Scam Type | What Happens |
|---|---|
| SetApprovalForAll | You approve the scammer to transfer all your NFTs |
| Infinite approval | You approve unlimited token spending |
| Gas drain | You “mint” but pay high gas to a malicious contract |
Red Flags
| Red Flag | Why It’s Dangerous |
|---|---|
| ”Connect wallet to view” | No real marketplace requires this |
| ”Mint now” button on a marketplace | Marketplaces don’t mint |
| URL has a typo or extra word | Definite fake |
| Domain is very new | Check with Whois |
| Too-good-to-be-true prices | It’s a trap |
| Asks for seed phrase | NEVER share it |
How to Stay Safe
| Rule | Why |
|---|---|
| Bookmark real marketplaces | Never search and click |
| Use wallet with revoke option | Revoke.cash can undo approvals |
| Use a burner wallet | Separate storage wallet |
| Check URL carefully | Look for typos |
| Check Twitter accounts | Official accounts have blue checks |
| Use wallet notifications | Monitor approvals in real time |
What to Do If Connected to a Fake Marketplace
| Step | Action |
|---|---|
| 1 | Revoke all approvals on Revoke.cash immediately |
| 2 | Move remaining assets to a new wallet |
| 3 | Don’t interact with the site again |
| 4 | Report the domain |
Bottom Line
Fake NFT marketplaces are phishing sites designed to drain your wallet. Bookmark the real URLs, never connect your wallet to unknown sites, and always check the URL before approving any transaction. Use Revoke.cash to manage approvals and a burner wallet for browsing unfamiliar marketplaces.
The approval scam is the real danger
The most common and most damaging version of a fake NFT marketplace is not the obvious phishing page that asks for your seed phrase — it is the one that looks completely legitimate and simply asks you to “sign” or “approve” a transaction. Two approval types do the damage. SetApprovalForAll grants the scammer the power to transfer every NFT in your wallet without asking again, while an infinite approval lets them spend an unlimited amount of a given token. Because these approvals sit in your wallet invisibly, the scammer can withdraw your assets days or weeks later, after the urgency of the fake mint has faded and you have stopped watching. That is why managing approvals — and revoking ones you do not recognise — matters as much as double-checking a URL.
Habits that keep your wallet safe
Protection is mostly habit rather than luck. Bookmark the handful of marketplaces you actually use and navigate to them directly, never through a search result or a link someone sent you. Keep your day-to-day holdings in a “burner” wallet with limited funds, and reserve your main wallet for storage only. Enable wallet notifications so you see approvals and transfers in real time, and review them on a tool such as Revoke.cash. Remember the simple rules that never change: no marketplace asks for your seed phrase, no marketplace needs an approval to let you browse, and no real platform has a “mint now” button. If any of those appears, close the tab.
What to do if you have been caught out
If you have already connected to a fake marketplace, do not panic — but move deliberately. First, immediately open Revoke.cash on a clean device and revoke every approval on the compromised wallet that you do not recognise. Next, create a brand-new wallet and transfer your remaining NFTs and tokens into it, leaving nothing of value behind in the old one. Do not open or interact with the fake site again, and report the domain so it can be taken down. The combination of revoking approvals and emptying the wallet closes off every avenue the scammer could use later.
Bottom line
Fake NFT marketplaces are phishing sites designed to drain your wallet. Bookmark the real URLs, never connect your wallet to unknown sites, and always check the URL before approving any transaction. Use Revoke.cash to manage approvals and a burner wallet for browsing unfamiliar marketplaces, and treat any request for a seed phrase or an unexplained approval as the scam that it is.