''Fake Approval Scams'' What They Are & How to Avoid Them

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''Fake Approval Scams'' What They Are & How to Avoid Them
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FinTech“Revoke” is always safe, right? Most crypto users believe that, especially since “revoke” is often considered a key part of Web3 wallet hygiene.

The Lure: While browsing their token approvals on a blockchain explorer like Etherscan or inside their wallet, the user spots an unfamiliar approval for a token they don’t recognize. It looks like some unknown contract has access to their valuable assets. Panic sets in, and the user instinctively rushes to revoke the approval, believing they’re protecting their crypto.

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