Uniswap Labs, the developer of Uniswap–a decentralized exchange, has introduced a new security feature called Permit2. Taking to X on January 18, the DEX developer said this update addresses the “infinite token allowances” vulnerability that hackers can exploit. This flaw risked user funds, and the new feature is meant to resolve this concern.
Uniswap Sealing Infinite Token Allowance Risks
In crypto, especially among decentralized finance (DeFi) protocols, the “token allowance” is permission initiated by the user granting smart contracts access to tokens. From there, assets can be moved.
With this permission, it becomes possible for users to interact with dapps, chiefly protocols that utilize user funds. Some of these dapps include, for instance, decentralized exchanges like Uniswap or lending platforms like Aave or Maker.
While useful, “token allowance” can be exploited by hackers via “infinite token allowance,” where hackers can infinitely access and illegally w
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