Quote from: studio1one on Today at 06:26:55 AM

Quote from: slackovic on October 16, 2020, 10:22:20 AM

Quote from: studio1one on October 16, 2020, 07:00:49 AM

Yea but, uniswap is a decentralized exchange which means, the funds are completely secure and are in your control because you hold the private key of your address.

Don't be so sure that your funds are completely secure if you use Uniswap or other exchanges like it. I have written a post about it last week so take a look. I was shocked what that "Approve" button actually does.

I had no idea that once you approve a token on metamask you are approving it for the unlimited tokens. An unaudited code can completely drain out our funds without us even knowing it. That's really bad.

Yeah. And that's what happened to the user I mentioned in that post. The biggest problem is that DEXes doesn't inform users about that. For me DEXes should ask a user to enter the amount of tokens they approve. Not just let them approve unlimited amount.