Revoke.cash is an approval management DApp that provides a simple and user-friendly interface, allowing users to view and revoke unnecessary approvals, thus enhancing their control and security over tokens.
An approval is a mechanism that allows third-party contracts to use a specific amount of tokens on behalf of the user. This mechanism helps facilitate liquidity provision and trading functionality but also comes with potential risks. For example, if a user grants approval to a malicious contract and fails to revoke it in time, the malicious contract could misuse the approval to transfer the user’s tokens at will. This behavior could result in financial loss and create security vulnerabilities.
As of now, Revoke.cash supports managing approvals on networks such as Ethereum, Arbitrum, Optimism, BSC, Polygon, Avalanche, and more. Click here for more information about Revoke.cash.
How to use Revoke.cash in imToken:
1.Open the imToken wallet, click the dropdown button at the top to enter the network switch page, select the network where you want to manage approvals, and swipe left on the corresponding function bar to find the “Approval Management” entry to access Revoke.cash.
2.Click “Connect Wallet” in the top right menu bar and select “MetaMask,” which is compatible with imToken, to connect your wallet. If you want to manage approvals on networks like BSC, Polygon, etc., you can switch directly on this page.
3.After successfully connecting your wallet, scroll down to the bottom of the page to see the approval status of the account. To revoke an approval, find the token or NFT you wish to revoke in the approval record list, swipe left, click “Revoke,” and confirm the action in the pop-up window to successfully revoke the approval.
If you want to change the token approval amount, click the “✏️” to edit, enter the value, click “Update,” and confirm again in the pop-up window to complete the modification.
Note: Revoking or changing token approval amounts will incur gas fees, so make sure to have enough funds in your wallet in advance.
Frequently Asked Questions
Q1. If I have an “Unlimited” approval, does this mean my entire wallet is at risk?
A: “Unlimited” approval is limited to the specific token or NFT you granted approval for. For example, if you provided unlimited approval for your DAI, all your DAI could be at risk, but your USDC would not be affected. Similarly, an “Unlimited” approval for a Bored Ape does not impact your Cool Cat NFTs.
Q2. Is my wallet safe if I disconnect it from the DApp instead of revoking the approval?
A: No. Disconnecting your wallet (such as imToken) from the DApp does not protect you from risks related to approvals or most other vulnerabilities. When the DApp and wallet are disconnected, the DApp can no longer see your address, but the approval you granted to a third-party contract within the DApp remains valid.
Click here to learn more about common questions regarding Revoke.cash.
Finally
imKey also supports approval management, and you can use Revoke.cash through imKey. If you wish to store large amounts of tokens or have higher security requirements, we recommend using the professional cold wallet device, the imKey hardware wallet, incubated by imToken, for safer token storage.
