I still think a lot of you don't understand what a token approval actually means


Let me break it down so your grandma could understand
You have $100 USDT in your wallet
You want to swap just $10 on a DEX e.g Uniswap
Before the swap goes through Uniswap asks you to sign an approval
That approval says "I give Uniswap permission to access my USDT"
But here's what you don't notice
The default approval is not $10
It's UNLIMITED
You wanted to swap $10 but you just gave Uniswap permission to access every single USDT that will ever sit in that wallet
The swap goes through. You got your $10 worth of tokens. Life is good
You forget about it
6 months later your wallet has $100,000 USDT in it
That unlimited approval from 6 months ago? Still active
Now imagine that protocol gets hacked
The hacker doesn't need to hack your wallet
They hack the protocol's contract that you already gave permission to
That contract has unlimited access to your USDT remember?
The hacker uses your approval to drain your $100,000
You didn't click anything suspicious that day
You didn't sign anything new
You got drained by a permission you gave 6 months ago and forgot about
This is how most "mysterious" drains happen
People wake up to empty wallets saying "I didn't do anything"
You did. 6 months ago. You just don't remember
UNI5.96%
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empty_cron
· 22h ago
Summary: Altcoins will eventually go to zero.
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