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Cardano Ecosystem

Cexplorer

03/06/2024

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Why is simple to drain the Ethereum wallet, unlike the Cardano wallet?

In the realm of decentralized applications (DApps), users can unfortunately fall prey to malicious actors.

Why is simple to drain the Ethereum wallet, unlike the Cardano wallet?

In the realm of decentralized applications (DApps), users can unfortunately fall prey to malicious actors.

These bad actors can deceive users into signing transactions that result in the draining of assets from their wallets. This issue is particularly prevalent in the Ethereum ecosystem, and it’s not merely due to its larger size. 

In Ethereum, users usually pre-authorize DApps to transfer any amount of assets from their wallets at a future time. While this feature may seem convenient, it is often exploited by malicious entities, commonly referred to as ‘Ethereum drainers’. 

Such incidents are less common in the Cardano ecosystem. In the article, we will explain why this is so. Pre-Approval of Future Transfer of Assets is Dangerous Ideally, a smart contract should not have an owner o Read article: Why is simple to drain the Ethereum wallet, unlike the Cardano wallet?

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ORIGINAL SOURCE

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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