Top NFT/Crypto Safety Software to Protect Your Wallets
THE WHAT?
Revoke Cash is a program that allows you to monitor and revoke active token allowances for any of the tokens in your cryptocurrency wallet
Why Should You Use Revoke Cash
As more individuals use dApps, they gain more approvals for various tokens
Because these approvals typically provide unrestricted permissions, they might constitute a considerable security risk
It is consequently advisable to revoke no longer required approvals, which can be accomplished using Revoke Cash
2. Etherscan
THE WHAT?
A recent phishing tactic involves the hacker getting permission to spend tokens from the owner of a wallet address
Following approval, finances begin to dry up
If you are a frequent user of decentralized exchanges (DEX) or a degen, clicking Confirm on a pop-up like the one above may be routine for you right now
Using a DEX or joining a yield farming pool entails engaging with a smart contract that handles the majority of the work behind the scenes for you
However, before a DEX or a yield farming pool can do anything, it must first gain access to your funds, as a result, the aforementioned pop-up appears
Only once you provide the smart contract access to your funds will it be able to move your tokens around to perform a deal, stake tokens in a 1000 percent APY pool, or exchange a cool glittering NFT for a cute wiggly
DISCLOSURE:
None of these articles constitutes financial advice. Articles are highly summarised to make it easy for the reader and save your time, so please DYOR further before putting your hard-earned money into any product mentioned.
Please note that the tech industry evolves rapidly and the info in this article is correct at the time of publishing. As Heraclitus said, “Change is the only constant”, so if anything sounds old or off please holler on the socials or comment here so everyone stays peeled.
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