Caution Malicious Approve

What is an Approve?

Approve is to allow another account (It can be an ordinary personal account or a contract account), which can control your asset without your permission. Approve is a very dangerous action.

Why Approve?

Approve widely exists in ETH, TRON and all EVM compatible public chain

Approve is like pre-authorized debit in Paypal, it allows dapp finish a set of operations automatically and save cost. Ex, it is heavily used in Uniswap.

Approve is a 0 amount transaction, and you need to pay attention to all transaction confirmation window

Approve Scams

Malicious dapp will leverage different ways to get your approve and transfer all your assets

How to prevent

1 Don't play DApps from unknown sources,

2 Regularly use

DeBank https://debank.com/

Cointool https://cointool.app

Tronscan https://tronscan.org

to cancel the approval