Approval Scams and Token Allowances

This lesson is for enrolled learners

The concept Many blockchains (Ethereum and EVM chains especially) require you to grant a smart contract an allowance — permission to move a specific token on your behalf — before that contract can interact with your tokens, which is how decentralized exchanges, lending protocols, and NFT marketplaces function legitimately. The scam exploits the same mechanism: a malicious site or contract……

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