For web3 users through metamask/dapp-browsers nft collectors :
Scammers has innovated a new methodology by getting approval to spend your tokens.
If you are in the space clicking Confirm on a pop-up may well be a routine for you right now.
Using a DEX or minting a token will need to access your fund while interacting with smart contracts.
When allowing these smart contracts access to your funds, by default, they are allowed to spend an unlimited amount of a token from your wallet address.
Therefore they are able to withdraw any amount of tokens from your wallet at any time they want without you knowing it.
Etherscan Made a token approval tool where you can check smart contracts and specific token you allowed to spend on your behalf .
All you have to do is to connect your wallet search for you ens name or address and easily revoke access to suspicious contracts.
This practice is required weekly to any dapp user verify or loose your precious.
May the force be with you !!!
Congratulations @spiriousdragon! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 200 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!