Comment by @clonex8315 • Hey

But still, all the approvals that you given with that wallet still exist no matter that the seed is stored on a ledger and as far as I know the new open se

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Approvals are an issue, whether you're using a software wallet or a hardware wallet. Revoke.cash should be used regularly for all wallets.
approvals work per contract and only for e.g. the marketplace you're using at the moment. an example: you want to transfer your CloneX from wallet A to wallet B, using the OpenSea transfer option. OpenSea will ask for approval to interact with your CloneX. it doesn't (and can't) do this for a specific token ID but for the CloneX contract and therefore all token IDs. if you have more than one CloneX, it can interact with them all until you revoke the approval. but OpenSea can't touch your CoolCats. if you have given an approval to OpenSea to interact with CloneX and you decide to sell on LookRare, you have to give LookRare an approval as well. the same applies for ERC-20s. let's say you want to swap 100 USDC for USDT on Uniswap, you have to approve USDC; sometimes you can limit the approval to a specific amount and don't need to approve all USDC. if you want to lend USDC on Aave, you have to approve USDC once again. it's always a unique combination of wallet address, contract address, and dapp. says the non-technical user.