Neo X users can now manage their token approvals through Revoke.cash, an open-source tool designed to enhance security and control over EVM-based assets. By reviewing and revoking approvals, users can mitigate risks associated with unauthorized transactions.
Token approvals allow smart contracts to spend specific tokens from a user’s wallet, facilitating interactions with decentralized applications, including DeFi exchanges, NFT marketplaces, and lending platforms. While these approvals improve blockchain efficiency, they also introduce potential security vulnerabilities that malicious actors might exploit.
Revoke.cash helps users remove unintended or outdated token approvals, reducing exposure to risks such as phishing attacks, compromised credentials, and smart contract vulnerabilities. Users can enter their wallet address on the Revoke.cash website to view a list of active approvals, including details such as approval date, amount, and spender. If necessary, approvals can be revoked with a wallet confirmation, requiring a small gas fee.
Including Neo X, Revoke.cash supports over 100 blockchain networks, which users can access via a dropdown menu on the platform.
More information can be found on the Revoke.cash page:
https://revoke.cash/token-approval-checker/neo-x
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