Crypto basics | Token approval doesn’t mean an immediate transfer
For common ERC-20 tokens, approve allows a specified contract to transfer tokens on your behalf, up to the approved amount. Your balance may not change when you grant approval, but the permission takes effect immediately. Unlimited allowances are convenient, but can magnify losses caused by malicious contracts or vulnerabilities. Disconnecting your wallet usually doesn’t revoke on-chain approvals; revoking them requires submitting a separate transaction and paying a fee. Before proceeding, check the network, token, approved contract, and allowance, and grant only the permissions you need. Also note: some signatures can grant permissions too, so “I didn’t pay gas” is not proof of safety. #区块链知识 #WalletSecurity
For common ERC-20 tokens, approve allows a specified contract to transfer tokens on your behalf, up to the approved amount. Your balance may not change when you grant approval, but the permission takes effect immediately. Unlimited allowances are convenient, but can magnify losses caused by malicious contracts or vulnerabilities. Disconnecting your wallet usually doesn’t revoke on-chain approvals; revoking them requires submitting a separate transaction and paying a fee. Before proceeding, check the network, token, approved contract, and allowance, and grant only the permissions you need. Also note: some signatures can grant permissions too, so “I didn’t pay gas” is not proof of safety. #区块链知识 #WalletSecurity