📎 Wallet & Security | Token Approvals
· What it is: If an approved contract has a vulnerability or is itself a phishing contract, it could transfer tokens out of your wallet.
· Why it matters: An approval is like giving someone a power of attorney to withdraw funds from your account: the higher the allowance and the longer it lasts, the greater the potential risk.
· In practice: Before approving, check which token you're authorizing, the allowance, and the contract you're approving. If you don't understand it, don't rush to sign.
$ETH 2411.44（-0.72%）
#ETH
· What it is: If an approved contract has a vulnerability or is itself a phishing contract, it could transfer tokens out of your wallet.
· Why it matters: An approval is like giving someone a power of attorney to withdraw funds from your account: the higher the allowance and the longer it lasts, the greater the potential risk.
· In practice: Before approving, check which token you're authorizing, the allowance, and the contract you're approving. If you don't understand it, don't rush to sign.
$ETH 2411.44（-0.72%）
#ETH