Quick Reference Card: Token Approvals
Before swapping ERC-20 tokens on a decentralized exchange, you generally need to sign an approval transaction, allowing the other contract to use those tokens in your wallet.
If a contract you’ve approved has a vulnerability or is malicious, the corresponding tokens in your address could be transferred out.
Keep the wallet you use for everyday interactions separate from the wallet holding larger assets. Make all small, routine approvals only from your everyday wallet.
While you’re at it, take a look: $ETH is quoted at 2043.51, 24h -0.96%.
Before swapping ERC-20 tokens on a decentralized exchange, you generally need to sign an approval transaction, allowing the other contract to use those tokens in your wallet.
If a contract you’ve approved has a vulnerability or is malicious, the corresponding tokens in your address could be transferred out.
Keep the wallet you use for everyday interactions separate from the wallet holding larger assets. Make all small, routine approvals only from your everyday wallet.
While you’re at it, take a look: $ETH is quoted at 2043.51, 24h -0.96%.
