Crypto Know-How | What Exactly Does Token Approval Grant?
In the common ERC-20 mechanism, approve allows a specified contract to use transferFrom to move your tokens, up to the approved amount. “Unlimited approval” makes future transactions more convenient, but may also put your token balance in the future at risk.
Connecting a wallet usually only lets a website read your address; disconnecting doesn’t revoke on-chain approvals. Revoking usually requires sending a separate transaction and paying gas, and it won’t return tokens that have already been transferred.
My rule of thumb: verify the chain and contract, approve only what’s needed, and regularly review old approvals. Even with a hardware wallet, make sure you understand what you’re signing.
#区块链知识 #WalletSecurity
In the common ERC-20 mechanism, approve allows a specified contract to use transferFrom to move your tokens, up to the approved amount. “Unlimited approval” makes future transactions more convenient, but may also put your token balance in the future at risk.
Connecting a wallet usually only lets a website read your address; disconnecting doesn’t revoke on-chain approvals. Revoking usually requires sending a separate transaction and paying gas, and it won’t return tokens that have already been transferred.
My rule of thumb: verify the chain and contract, approve only what’s needed, and regularly review old approvals. Even with a hardware wallet, make sure you understand what you’re signing.
#区块链知识 #WalletSecurity