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Revoke.cash Profile picture
@RevokeCash
Apr 9 • 7 tweets • 2 min read • Read on X
😨"Can I get hacked if I approve a token on a testnet?"
The short answer: No.

Testnet tokens are worthless, and testnet approvals won't affect your real assets.

Let's break it down 👇🧵Image
1/
 We get it - approvals are scary.
But testnets are designed to be safe sandboxes.
Think of it like playing poker with monopoly money. 🃏
Even if you go all in, you're not losing real ETH.
2/
 Testnets (like Sepolia or Goerli) are separate blockchains from Ethereum and other chains.

So if you approve a token on a testnet:
✅ That approval only exists on that testnet
❌ It does NOT give anyone access to your mainnet funds
3/
Why this matters?
Some users see an approval on a testnet and panic.
But approving tokenXYZ on Sepolia won't expose your real ETH or stablecoins on Ethereum.
The networks don't talk to each other like that.
4/
So do you need to revoke testnet approvals?
Usually not.
Testnet tokens are free, and scammers have no incentive to target them.
The worst that can happen? You lose tokens with no value.
5/
🛠 We support testnets on mainly for devs & testing.

But for most users:
✅ Mainnet approvals matter
🧼 Testnet approvals? No real risk

It's still great to build good habits - and wallet hygiene is one of them! Our industry has a lot to worry about - testnet tokens are not on that list.Revoke.cash
6/
TL;DR:
🔸Testnets are like playgrounds
🔸Approvals on testnets don't touch your mainnet assets
🔸You don't need to fear testnet tokens
🔸Focus on keeping mainnet clean

• • •

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More from @RevokeCash

Revoke.cash Profile picture
Sep 29, 2023
Today we received a report of a sneaky trick that scammers use to steal your crypto assets. It revolves around "masking" a network's name to make it seem like you're sending some inconsequential token, while you're actually sending valuable assets 😱 Image
We've all seen popups like these, when a website prompts us to switch our wallet to the required network. But in this case there's something weird going on: we're adding the network called "Totally Not A Scam" with symbol "SCAM", but it has the same chain ID as BNB Chain 🤔 Image
This is possible because the name and symbol are not specified onchain. So if you add this network and then the website prompts you to send a transaction, it might seem like you're sending worthless "SCAM" tokens, while in reality you're sending your valuable BNB to the scammers. Image
Read 5 tweets
Revoke.cash Profile picture
Aug 8, 2023
The Revoke browser extension is fully open source and client-side.

But what does that mean? 🤔👇 Image
Many extensions that provide transaction insights (like @wallet_guard or @PocketUniverseZ or @_joinfire) send transaction data to a server that simulates the transactions and returns the results.

E.g. "you will approve all your Bored Apes" or "you will swap 1 ETH for 1800 DAI".
On the other hand, the Revoke extension does not simulate transactions. Instead it performs a static analysis to determine what kind of transaction or signature the website is requesting you to sign.
Read 12 tweets
Revoke.cash Profile picture
Jul 9, 2023
Yesterday, we received reports of people seeing unknown approval transactions in their transaction history.

It turns out that this is a new scam where scammers use so-called gas tokens to steal money when victims revoke these "fake approvals".
Fortunately, many of these approvals weren't showing up in Revoke, since they were filtered out based on heuristics, but a few always slip through the cracks.

So to combat this scam we've just added a check that disables revoking approvals if there's an excessive gas fee.
So how does this scam work?

Years ago, when gas fees started to rise on Ethereum, the concept of "gas tokens" were developed. These gas tokens used (or abused) a feature of the EVM that allows for gas refunds when clearing storage.

One example is CHI:

blog.1inch.io/everything-you…
Read 8 tweets
Revoke.cash Profile picture
May 18, 2023
As we've seen with last month's SushiSwap exploit, even established projects can contain bugs that put approved funds at risk. In these situations it is important to check if you're affected quickly, which is why we're launching our Exploit Checker. Image
We realise that it is hard to find out if you are affected by an exploit by just looking at your list of allowances, especially if you have many of them. Image
This is exactly why we created this Exploit Checker. On the Revoke.cash website you can find an "Exploits" page with a list of known exploits that put approved user funds at risk. Each of these exploits has its own checker associated with it. Image
Read 7 tweets
Revoke.cash Profile picture
Apr 27, 2023
PSA: Not every allowance needs to be revoked, some of them are automatically revoked when you use them completely.

We've recently gotten incorrect reports of "missing" allowances because many people don't understand the difference between these two.

Let's dig in 👇 Image
1/ For ERC20 tokens, there are two types of allowances that you can grant: Unlimited and Limited. For an Unlimited allowance you give access to your entire token balance for the specified token (e.g. USDC). This type of allowance will stay active until it is revoked.
2/ For Limited allowances, you specify an amount (e.g. max 1000 USDC). These allowances can be revoked, but most of the time they are automatically revoked once they're used.
Read 8 tweets
Revoke.cash Profile picture
Apr 19, 2023
Getting scammed is terrible. But it's even worse if you don't understand how it happened.

There are four main kinds of methods that phishing scammers use to steal your funds:

1. SEED PHRASE COMPROMISE
2. DIRECT ETH TRANSFERS
3. APPROVALS / PERMITS
4. NFT MARKETPLACE LISTINGS
1/ SEED PHRASE COMPROMISE.

In this case, scammers will trick you into entering your seed phrase into a popup that looks like it belongs to M*taM*sk. Image
After they gain access to your seed phrase they can drain all your funds and will be able to continue draining your wallet if you deposit additional funds into the wallet.

There is no way to recover from this, and you will need to create a completely new wallet.
Read 12 tweets

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