Crypto lost to a fake 'Uniswap farming' site, is there any way to recover my USDT and ETH?

asked 13d ago9 views10 answers
0

Okay, so I feel so silly even typing this out, but I'm desperate. Last week, I saw an ad on Telegram for a new 'Uniswap V4' farming pool offering crazy APY. I clicked it, it looked super legit, had all the Uniswap branding, and even connected to my MetaMask with approval from my phone. I didn't think much of it at the time, just wanted to get some rewards.

I connected my wallet, approved what I thought was just a 'staking' transaction, and then boom, my USDT and some ETH I had for gas just vanished. Like, within minutes. I checked the transaction hash on Etherscan and it went to some random wallet, not even the 'farming pool' address. I lost about 8,000 USDT and a bit of ETH. This was pretty much my savings from last year, trying to build something.

I've tried messaging 'support' on the site, but no surprise, no response. I've reported it to MetaMask but they said they can't reverse transactions. Is there anything at all that can be done? I'm in Abu Dhabi, but the transaction was on Ethereum.

10 Answers

29

Ugh, this is a classic wallet drainer scam, Aisha. I'm really sorry this happened to you. When you 'approved what you thought was just a staking transaction,' you likely approved a malicious smart contract that allowed the scammer to transfer your tokens directly out of your wallet. The fact it went to a random wallet and not the listed pool confirms that it was never a real farming pool.

Recovery here is incredibly tough because crypto transactions are irreversible. Once those tokens are moved off your wallet, they're gone. Your best bet is to do an on-chain trace to see where those funds went. Tools like TRM Labs or ChainAbuse can help trace the funds, but they're mostly used by law enforcement or specialist firms. If the scammer moves the funds to an exchange, sometimes law enforcement can step in and try to freeze it, but this is a long shot, especially with international jurisdictions. Be wary of anyone promising easy recovery for an upfront fee – those are almost always recovery scams.

Jack Smith · Birmingham, United Kingdomanswered 13d ago
47

I really empathise with your situation, Aisha. It's a horrible feeling. Unfortunately, as others have said, wallet drainers that gain permission through a malicious contract signature are exceedingly difficult to recover from. The scammer gets direct approval to spend your tokens. The funds were sent directly from your wallet because you unknowingly authorised it.

Here's what you *can* do, though it's mainly for documentation and to assist future potential victims:

  1. Report to law enforcement: Since you're in the UAE, report it to the local police/cybercrime unit. They might have a liaison with international bodies. Also, consider reporting to the FTC or FBI IC3 if the scammer has any US ties (unlikely you'd know, but doesn't hurt).
  2. Report to exchanges: If you can trace the funds to an exchange (using Etherscan, for instance, see if the scammer's wallet eventually sends funds to a centralised exchange's deposit address), report the address and transaction IDs to that exchange. They *might* be able to freeze funds if they're still there, but they require a police report or court order.
  3. Revoke permissions: Go to a site like Revoke.cash or Etherscan's token approvals section and revoke any approvals you gave to that scam contract. This is crucial even if your wallet was drained, just in case.

Don't engage with any 'recovery services' that ask for money upfront. They are all scams. The only legitimate services like Nethertrace will be upfront about their findings and costs, and won't make guarantees.

Oliver Wilson · Bristol, United Kingdomanswered 13d ago
18

Oh man, I totally feel your pain. I fell for something similar last year, though it was a fake airdrop linked to a fake Trust Wallet site. Lost about 3k USDC. It's so disheartening. I reported it to the FBI IC3 because I'm in the US, but honestly, nothing ever came of it. They sent an email saying they'd received my complaint, and that was it. It's been nearly a year. I've pretty much had to write it off as a lesson learned. Just make sure you've revoked all permissions from that dodgy site on your MetaMask settings, so they can't do anything else if you accidentally connect again. So sorry, sweetie.

Jessica Anderson · Dallas, USAanswered 13d ago
34

This whole 'APY too good to be true' thing is a massive red flag that people need to watch out for. Seriously, if it's offering 500% or 1000% APY on a stablecoin, it's almost certainly a scam. No legitimate financial product can sustain those kinds of returns. And Telegram, ugh, it's a breeding ground for these kinds of ads. Always, and I mean ALWAYS, verify the URL of any DeFi platform directly through official channels like CoinGecko or CoinMarketCap, or the project's official Twitter/Discord, never from a random ad or DM. The 'Uniswap V4' part right now is especially dodgy because V4 isn't even fully launched yet, so anything claiming to be a V4 farming pool is definitely a scam.

Thomas Neumann · Leipzig, Germanyanswered 13d ago
14

I had a similar experience but with a fake 'staking' site for a smaller altcoin. Lost like 2k EUR. I was so mad at myself. I did try reaching out to a company called Nethertrace after hearing about them from a friend who got scammed with a fake exchange. They were really upfront about the chances, which were low in my case because the funds were quickly moved to mixers. But they did confirm the funds were gone to a known scammer's address. It might be worth a consultation just to get some clarity, but don't expect miracles, especially if the funds have been moved multiple times across different chains or through privacy mixers. It's tough, I know.

Ciara Burke · Cork, Irelandanswered 13d ago
12

It's a brutal reality of crypto, Aisha, that these types of scams are so prevalent. The 'Uniswap V4' thing on Telegram is such a classic trick to get people greedy enough to not double-check. They rely on FOMO and people not understanding how smart contract approvals actually work. You basically gave them permission to take your funds. It's not like someone hacked your wallet, which *might* have some redress if it was an exchange's fault. Here, you authorized the transaction, albeit unknowingly. This makes recovery borderline impossible. Sorry to be blunt, but it's important to understand the mechanism if you continue in crypto.

Liam Mulder · Breda, Netherlandsanswered 12d ago
7

Girl, same thing happened to my brother last year with a fake PancakeSwap pool. He lost like a bunch of BNB. It's just devastating, I know. You're not stupid, these scammers are just super sophisticated. They prey on people's hopes, you know? Just try to be kind to yourself. It's a horrible lesson, but a lot of us have been there. Make sure to tell your friends about this so they don't fall for it too. Sometimes sharing your story helps prevent others from getting hurt.

Jessica Jackson · Miami, USAanswered 12d ago
9

Oh my goodness, Aisha, I am so sorry to hear this. I'm from Ras Al Khaimah and I've heard similar stories here. Those Telegram groups and ads are so dangerous. I almost fell for one myself, luckily my brother caught it in time. The feeling of seeing your funds disappear, I can only imagine. Please don't beat yourself up. These people are very clever. The advice about Nethertrace sounds interesting, maybe worth looking into for tracing, but yes, don't pay anyone up front trying to 'recover' it. That's usually a second scam.

Maryam Al Falasi · Ras Al Khaimah, UAEanswered 12d ago
5

This is so frustrating. I lost about 5k EUR to a fake Kraken liquidation notice, thought I was confirming my account but actually authorized a transfer. It's been like 6 months now. I went to the Gardaí (Irish police) and they filed a report, but honestly, it feels like they don't really know what to do with crypto stuff. There's no specialist unit here for it really. I used a blockchain explorer to follow the funds, and they ended up mixed with hundreds of other small amounts and sent to Binance, then out again. At that point, it just feels hopeless. Just revoke EVERYTHING connected to that sketchy site asap.

Emma Smith · Dublin, Irelandanswered 12d ago
3

Yeah, that's rough mate. Pretty much all my crypto losses have been from wallet drainers because I clicked on some dodgy link. The first time was about 2k AUD on a fake presale for some meme coin. It hurts, but honestly, it's almost impossible to get that back once it's gone through one of those malicious approvals. You basically gave them the keys. The best you can do is learn from it. And yeah, be super suspicious of ANY 'recovery' people contacting you now — they're probably scammers too, lurking on these forums.

Jack Jones · Darwin, Australiaanswered 12d ago

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