Just saw a screenshot—your phone pops up a prompt saying “Approve,” and I casually clicked it. Hilarious: your approval amount looks like a credit card limit—whatever the project wants to spend, they can just spend.



Honestly, during that wave of chain game blowups, a lot of people fell because of “infinite-allowance approvals.” The economic model went from expansion to collapse: the token kept dropping. The project just pulls the liquidity from your wallet, and you don’t even have time to react.

I’m used to checking my approvals before bed—revoke anything that can be revoked as soon as possible. It doesn’t take much effort, but it can block a lot of “midnight raids.” Don’t call it a hassle—you never know whether tomorrow or a hacker will come first.

(Back then, even when I was an LP, I paid tuition to learn this stuff—and thinking about it now, my blood pressure is seriously through the roof.)
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned