Definition ∞ Token Approval Revoke is the action of canceling a previously granted permission for a smart contract to spend a specific amount of a user’s tokens on their behalf. This security measure allows users to nullify access rights given to decentralized applications. It is crucial for mitigating risks if a contract is compromised or no longer needed.
Context ∞ News often emphasizes the importance of Token Approval Revoke as a vital operational security practice for users interacting with decentralized finance. Reports of exploits where malicious contracts drain funds often lead to calls for users to regularly review and revoke unnecessary token approvals. Tools and services specifically designed for this purpose are gaining prominence.
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