Asked: What is token approval?
My answer: If an approved contract has a vulnerability or is a phishing contract to begin with, the corresponding tokens in your wallet could be stolen. Approval is like giving someone a signed authorization to deduct funds from your account: the higher the allowance and the longer it lasts, the greater the risk.
$ETH 2409.99（-1.04%）
What situation made you figure this out?
#ETH
I can be wrong too, so don’t take this as advice.
My answer: If an approved contract has a vulnerability or is a phishing contract to begin with, the corresponding tokens in your wallet could be stolen. Approval is like giving someone a signed authorization to deduct funds from your account: the higher the allowance and the longer it lasts, the greater the risk.
$ETH 2409.99（-1.04%）
What situation made you figure this out?
#ETH
I can be wrong too, so don’t take this as advice.