How to Safely Bridge Assets in DeFi (Approve & Revoke)

https://revoke.cash/

One of the best aspects of DeFi is that there are so many options and possibilities for users to engage in with different projects and communities.

This can have its downsides however, as liquidity can become spread out across multiple different chains.

Bridges have emerged as a way to help mitigate the issue of cross-chain liquidity by allowing users to send assets from one chain to another.

However, as with anything else, bridges come with inherent contract risks.

Part of this risk is the risk of approval exploits.

You see, whenever you interact with and use a token with a new protocol or dapp for the first time, it will require that you give that dapp permission to use your token.

This is important because it opens the door to approval exploits.

Approval exploits occur when malicious individuals abuse these token approvals to drain wallets of their previously approved assets. ... https://www.youtube.com/watch?v=GA-aymwVF_o