Post
Topic
Board Altcoin Discussion
Re: Will UNISWAP become a centralized exchange?
by
studio1one
on 17/10/2020, 06:26:55 UTC
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.