are functions in the web3 that allow users to grant permissions to spend digital assets on their behalf. However, these functions can be exploited by malicious users to access and spend assets without authorization, representing a serious vulnerability in web3 security. In summary, while these functions are useful, they can also be exploited by individuals with malicious intentions to commit fraud or steal digital assets.

Usage by Drainer The drainer requests the token holder's approval through the approve method, allowing them to spend a specified amount of tokens. If more tokens are needed, the drainer can request additional approval via increaseAllowance. Once approved, the drainer can efficiently drain tokens from the token holder's account as permitted.

"Dredgers" or "delegates" can use the "permit" and "permit2" functions to facilitate token drainage. These functions are commonly associated with Ethereum's ERC-20 tokens, particularly those implementing the ERC-20 Permit extension or ERC-2612 standard for meta transactions. Here's a precise and technical explanation of how dredgers use these functions:

Usage by Drainer To drain tokens, drainer typically request token holders to sign a permit message using their private key or through a user interface provided by wallet software. Once the message is signed, the drainer submits it to the token contract's "permit" or "permit2" function along with the signature parameters. After successful validation of the signature, the drainer gains permission to spend tokens on behalf of the token holder up to the specified amount and within the specified time frame.

can use setApprovalForAll upon receiving authorization from the owner to transfer NFT on their behalf, simplifying the permission management process and enabling efficient token transfers on the Ethereum network.

Usage by Drainer The drainer requests the user's authorization to manage their NFTs using the setApprovalForAll function. This function enables the user to grant the drainer a generalized permission to perform NFT transfers on their behalf. Once approved by the user, the drainer can efficiently transfer NFTs on behalf of the user without needing additional approval for each individual transfer.

The seaport method, often used by "spenders" or "delegates" in the context of non-fungible tokens (NFTs), is typically associated with projects or libraries such as OpenSea, which provide a marketplace and infrastructure for trading NFTs. OpenSea's SDK or API often includes a method called seaport which acts as an interface for interacting with their platform programmatically.

Usage by DrainerSigning a Seaport transaction can enable the attacker to set up private auctions with custom prices to transfer all of your assets for free. Before signing any transaction, drainer take all assets from user wallet.