What Are Some Best Practices for Managing Token Allowances to Minimize Security Risks?

To minimize risks, users should avoid unlimited allowances whenever possible. Instead, grant allowances only for the specific amount required for a transaction.

Regularly review and revoke old or unused allowances for dApps you no longer interact with. Use trusted dApps and be wary of phishing sites that trick you into signing malicious approval transactions.

Consider using hardware wallets for an extra layer of security when approving transactions.