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MetaMask New Feature Stops Wallet Drain Scams

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To counter scams on wallet draining, MetaMask has updated their browser extension and also their wallet resulting in safer security, harder for the scammers to perform their tricks. This new feature asks to grant permission to your wallet instead of automatically entering so there will be a wall of approval before they can hack into it. But what we need to put notice on is the overall security comes with you efforts to keep it up to date with the latest security protocols.

Updates To MetaMask Will Help Minimize Scams

Now onwards, there will be an added security layer for MetaMask users when they use their crypto wallets. This is the update 10.18.0 which includes huge updates of software change and will now ask for permission rather than just granting it access. 

The update MetaMask is much needed as a response to a vast waves of scammings taking place, draining their NFT wallets. Many people have been a victim to these scams through Twitter or Discord.

What we need to take note is that the NFT Space has seen many new social media scams and this is the method that comes out these past 6 months. You may have also heard that some well-known NFT projects and NFT influencers have been scammed as well.

Because of what had happened, how these scams take place, by giving them complete access to your crypto and NFTs, some people have lost millions through malicious ways of stealing your assets on your wallet.

Hopefully with the added security, users will be more cautious and take the time to think about who they are giving access to their wallets.

How Does the update 10.18.0 work?

MetaMask is the leading Ethereum wallet with over 21 million users and MetaMask hs trying to stay one step ahead of the NFT wallet smacs to protect their users and because of many people using the crypto wallets, MetaMask must act quickly to solve the issue. 

With the new release, this week, it aims to disrupt the NFT scam industry. With this new approval protocol, users can avoid scammers gaining access to wallet and draining it. Users will no longer automatically connect and what’s more is if you don’t approve access then the other person can not access your NFTs or Crypto funds.

MetaMask NFT Development Updates NFTeller

MetaMask Confirms Their Focus On NFT Scams

In a recent post on Github by MetaMask, they talked about their work on developing a software for the added security layer and introduced information on how the feature works.

One of the screenshots has text saying “Give permission to access all your BAYC?” It also offers a second warning stating that “by granting permission, you are allowing the following account to access your funds”.

In June, MetaMask software engineer Alex Donesky wrote on GitHub about the matters that are ongoing in the NFT space. This is what he said “There is some  urgency to get something out there since this method is so commonly used.”

NFT Security Knowledge is Still the Best Way to Stay Safe

The MetaMask update will help reduce the amount of NFT wallet drainer scams, but they cannot stop them completely. NFT scams also rely on social interaction. People will often trick others into giving them access to their wallets. Finally, it is important to remember to keep the private key of yours and never reveal it to anyone else. For more NFT development updates, follow NFTeller.

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