Revoking Token Approvals
Whenever you interact with a DApp, you must first give permission for the smart contract to spend a certain amount of your token (called an allowance). This is called a Token Approval. Most DeFi applications uses “infinite approval” as a default setting. This setting can be very convenient for saving time and fees on future approval transactions. However, when that smart contract gets exploited by some bad actor and gains control of the address, it presents an opportunity to exploit users.
To protect your assets, you can manually revoke these Token Approvals. On this guide, we will show you how you can revoke ERC20 token approvals via Etherscan Token Approval Checker.
Steps to Revoke Token Approvals
Step 1
Go to this website https://etherscan.io/tokenapprovalchecker. Search for your ETH address.
A list of Token Approvals will be shown.
Step 2
Connect your Trust Wallet using Wallet Connect Mobile Linking. Tap on Connect to Web3 and choose the WalletConnect option.
Tap on Trust and then Connect your wallet.
Step 3
Look for the token approval that you want to revoke. Scroll to the far right and then tap on Revoke.
Step 4
Confirm the transaction on Trust Wallet. This will require some ETH for the Gas fees.
Once the transaction is confirmed, this will revoke the token approval. All done.
