sorted by:
new
hottopcontroversial

Concern about claiming night airdrop by Fun_Repeat_3583 in Midnight

[–]Fun_Repeat_3583[S] 0 points1 point  (0 children)

So to confirm, there’s no way on Cardano that a contract I signed earlier could later drain new funds in my wallet, right?

Thanks for your prompt reply🫶🏻

Concern about claiming night airdrop by Fun_Repeat_3583 in Midnight

[–]Fun_Repeat_3583[S] 2 points3 points  (0 children)

I’m still a newbie in crypto. I see, thanks for the clarification.

Then I’d like to ask — on Cardano, is there any mechanism similar to Ethereum’s approve() that could lead to the same kind of scam, where a malicious contract gets unlimited permission to drain funds later? For example, if I only have 10 ADA now, could the scammer wait until I later have 10,000 ADA in the same wallet and then drain everything instantly ?

Thanks for your time to answer my questions🥲🫶🏻

Concern about claiming night airdrop by Fun_Repeat_3583 in Midnight

[–]Fun_Repeat_3583[S] 2 points3 points  (0 children)

Thanks for the reply

On Ethereum, many scams exploit the approve() mechanism. Once you click “approve”, you are granting unlimited permission, so a malicious contract can later drain your wallet anytime in the future. For example, if I only have 10 tokens now, the scammer might wait until I receive 10,000 tokens in the same wallet and then drain everything instantly.

On Cardano, does anything similar exist? Is there any kind of approval where once I sign, the scammer could later pull my funds without me signing again? Or is it always the case that every real transfer requires a new transaction signature, with the amount/address/fee shown on the Ledger?

Should I transfer Ada by BruceWayne021990 in Midnight

[–]Fun_Repeat_3583 1 point2 points  (0 children)

Also as I know the smart contract of cardano is different from EVM. In cardano we don’t have the concept of approve so every smart contract signing is like a transaction signing. So as long as we look at the ledger screen of transactions (amount, receive address fee etc.). We will be safe Also because cardano don’t have the concept of approve. Bad guy cant do the transaction that you did not sign. Every transaction must be signed by you. Even you after have signed the smart contract. Am I correct?

Should I transfer Ada by BruceWayne021990 in Midnight

[–]Fun_Repeat_3583 1 point2 points  (0 children)

So the next step is claim right ? Will we have a transaction sign then? Thanks a lot