Revoke your smart contract approvals ASAP, warns crypto investor

Australia News News

Revoke your smart contract approvals ASAP, warns crypto investor
Australia Latest News,Australia Headlines
  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

This 2023 don't forget to double-check your smart contracts. Last year crypto hacks scored new ATH.

Even known “good-behaving” contracts should be revoked as hackers could find exploits to pilfer funds from connected wallets.saw around $2.1 billion stolen mostly from DeFi protocols and cross-chain bridges where attackers found vulnerabilities in existing smart contracts to carry out their heists.

Users commenting on the post also suggested that one could schedule a reoccurring interval to revoke all smart contract approvals, such as on the 1st of every month or even at the start of every week. Others suggested there were third-party services that could check and revoke smart contract approvals across a number of chains, including BNB Smart Chain, Ethereum and Polygon.

One user responded that the “best” advice was to interact with as few smart contracts as possible, saying “revoking permissions is good practice but not giving permissions in the first place is better.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Cointelegraph /  🏆 562. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New year community advice: Check your smart contract approvalsNew year community advice: Check your smart contract approvalsAs the 2023 year ticked over, the crypto community gave a hot tip for newbie investors: Don't leave anything to chance. Check your smart contracts and revoke all approvals.
Read more »

New Year, new drama: Grief-stricken woman wonders if she can 'sneak out' of a friend's father-daughter danceNew Year, new drama: Grief-stricken woman wonders if she can 'sneak out' of a friend's father-daughter danceA grieving Reddit user was reassured by others that skipping out during her friend's 'father-daughter dance' during the wedding reception would not be inappropriate. Read the responses from others.
Read more »

Bruce Arians on Coaching: ‘I’m Smart Enough to Know It’s Over’Bruce Arians on Coaching: ‘I’m Smart Enough to Know It’s Over’'I’m smart enough to know it’s over.' Bruce Arians shares his honest thoughts on his retirement from coaching
Read more »

Meta buys smart lensmaker Luxexcel to further AR ambitions | EngadgetMeta buys smart lensmaker Luxexcel to further AR ambitions | EngadgetMeta this week confirmed it recently bought Luxexcel, a Dutch startup that specializes in augmented reality eyewear..
Read more »

Georgia's Kirby Smart issues blunt challenge to Stetson Bennett after thrilling win: 'He must play better'Georgia's Kirby Smart issues blunt challenge to Stetson Bennett after thrilling win: 'He must play better'Georgia coach Kirby Smart wasn't pleased with Stetson Bennett's quarterbacking in their comeback win over Ohio State on Saturday night.
Read more »

Georgia Coach Kirby Smart: '(Ohio State) Played Well Enough to Win'Georgia Coach Kirby Smart: '(Ohio State) Played Well Enough to Win'Georgia head coach Kirby Smart had nothing but praise for Ohio State after the Buckeyes suffered a heartbreaking 42-41 loss to the Bulldogs in the College Football Playoff.
Read more »



Render Time: 2025-03-01 00:38:23