A strange ongoing attack (A must read for all members).

[JeffBrad12]

This was the reason I had to reduce doing of airdrops , because it usually involves a lot of connecting your wallet into random site inorder to participate in some airdrops.

I had to separate my personal wallet from that of airdrop , so I won’t endup falling a victim of any scam activity, this same reason why I don’t use browser extensions in the device I have my asset store, then they use such method to drain alot of users.

Same here. Connect your wallet to check if you are eligible to our token that no one has neve heard about. Right.

Well, actually sometimes i just emptied my wallet and tried it for them. As you never know and i am out of the loop when it comes to new 2nd layer scaling solutions. Problem is that i might have forgotten to deny the rights after checking, so some of my wallets might still be vulnerable. So i won't be sending anything in them before i check what they are connected to.

Can't the developer just dispense the token though? it's easier and save a lot of fees.
I don't really do airdrop that much these days and prefer trading more but back in the days airdrop always get dispensed using multi sender all in one batches. The fee is on the developer and there is no such thing as getting scammed through wallet connection.

Seems the world of altcoin is going few steps back in the security department .

[Orpichukwu]

Can't the developer just dispense the token though? it's easier and save a lot of fees.
I don't really do airdrop that much these days and prefer trading more but back in the days airdrop always get dispensed using multi sender all in one batches. The fee is on the developer and there is no such thing as getting scammed through wallet connection.

It's not as if they can't, but they don't want to because this token claiming option has now been another means for them to generate money too through those fees. Some of this claiming happens on their platform, for which the fee is usually more than a normal network fee should have been. These days airdrops are not entirely free; people pay for you to be eligible for something which should have been free.

[BitMaxz]

In order to have revokable permissions you would have needed to connect to a website at some point in the past. Connecting to a site to remove spending permissions from a smart contract isn’t any more dangerous inherently than connecting to any popular dapp. If the website is compromised or the developers are shady, that’s a different story, but this is assuming we are dealing with honest actors and revoke.cash seems to be reputable. There was one incident last year, but it was the fault of Ledger's Connect Kit and it affected many other major websites.

You can also do the same thing from Etherscan, Metamask Portfolio, or Rabby Wallet if revoke.cash isn’t suitable. The best way to avoid drains related to token allowances is to avoid giving unlimited spending approval to any contract. Only approve the amount you need to complete your trade or whatever action you are taking.

So you trust a 3rd party for your wallet protection?
Well I don't mind if you use it if the site change its code to get access into your balance you'll regret later.
So for me it still not recommended to use even how trusted the site is.

[FinneysTrueVision]

So you trust a 3rd party for your wallet protection?
Well I don't mind if you use it if the site change its code to get access into your balance you'll regret later.
So for me it still not recommended to use even how trusted the site is.

If the alternative is to leave an attack surface wide open, then yes I would trust a third party tool. This isn’t even a blind signing situation. Any wallet, including hardware wallets, can decode the data and tell you that you are about to revoke spending approval from a contract. Even Trezor recommends using third party apps.

There are numerous third-party applications and platforms available that can assist you in managing and revoking smart contract allowances. By using these tools, you can further protect your wallet and ensure the security of your crypto assets.