Slope Insights-How to Cancel Your Wallet Authorization
As you may know, whenever users participate in the DeFi, NFT, mining, yield farming, and other relevant projects, they need to connect to their wallet to complete the authorizations. But 99% of projects in the crypto space are built on the blockchain, many interactions require users to directly authorize the Dapp or platform to access the crypto wallet. When you use your wallet for transactions, the wallet will ask you if you want to Approve? Once you approve, it means the program has direct access to your wallet assets. Then at this point, you need to be aware of the potential risks. Only after double-checking that the Dapp or link you are visiting is secure and trusted, can you continue to use it.
Some old-hand users are involved in a couple of projects on a daily basis and thus they have to interact with contractually licensed projects. Once the authorization is activated, then it could be permanent, which poses a huge risk. Some unknown or insecure programs may inadvertently obtain your authorization and steal your assets, this will cause you a lot of damage. Then, in this case, we can deauthorize through some deauthorization tool websites or block browsers. Currently, the site of the de-authorization tool will be more convenient, take Debank as an example here.
●Go to the Debank website to connect your wallet, as Debank supports multiple blockchains, in the picture below we are linking to MetaMask, an Ethereum wallet, select “Approval” in the lower bar
●Here you can view the operation logs of the Ethereum wallet and other projects. Please remember that most of these authorization records caa be permanent. If there is no artificial release wallet, then these projects can always access your wallet.
●For example, Uniswap V2, If you need to unlink the project from your wallet. You can choose to click to go to the authorization page of the project, and click on the three-dot icon Cancel Approval on the right. Please note that a fee will be charged for each cancellation.
In addition, you can cancel address authorization online by using major blockchain browsers.
●How to prevent Approve scam
1. Don’t participate in DApps from unknown sources, DApps without open source, DApps without audit reports, and DApps from anonymous teams.
2. Use and audit the wallet security tool, Cointool, and other cleaning authorization tools for authorization cleaning regularly;
3. Create a new wallet, and after authorization and other operations are completed, transfer the Token to the new wallet address, which is more secure because it has no authorization history.
About Slope Finance
Slope Wallet is the first cross-platform wallet built for Solana and is available in the App Store, Google Play, and Chrome extension. It provides users with a complete user experience, including Solana Pay, DeFi engagement, visualized NFT management, IDO aggregator, and token SWAP.
In addition, Slope is governed by Slope DAO (decentralized autonomous organization), and all community members who hold Slope tokens can participate in the project’s governance.
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