A friend left a comment asking about this, so I’ll try to explain it in simple terms.
Many DApps request unlimited spending approval by default. That approval remains valid indefinitely unless you revoke it yourself.
Many phishing scams don’t need your seed phrase. They just need to trick you into signing one more transaction, and they can drain your assets.
While we’re at it, take a look: $ETH is currently at 1746.54, down 9.08% over 24 hours.
Have you ever misunderstood this before?
#ETH
Many DApps request unlimited spending approval by default. That approval remains valid indefinitely unless you revoke it yourself.
Many phishing scams don’t need your seed phrase. They just need to trick you into signing one more transaction, and they can drain your assets.
While we’re at it, take a look: $ETH is currently at 1746.54, down 9.08% over 24 hours.
Have you ever misunderstood this before?
#ETH