Revoke Approvals

Consider a scenario where all your tokens in the wallet disappear, it is possible!

To swap any token in DEX, it's necessary to provide permission (Token Approval) to the Decentralised Exchange Smart Contract (Spender) for accessing the token in your wallet during the swap.

However signing permission before each swap is the real inconvenience. So for better user experience, Decentralised Exchanges prompts you to grant permission for unlimited token access in your wallet. While this approach aims to minimise hassle, it introduces a potential security risk.

If permissions are mistakenly granted to malicious websites or if the DEX itself falls victim to a hack, your tokens could be drained, resulting in a complete loss.

Enter the Revoke Approvals feature of DEXCoinApp: Scans your wallet for approved tokens and identifies any suspicious spenders. With just one tap, you can effortlessly revoke access, ensuring your wallet remain protected from unauthorized access and potential losses.

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