MetaMask Implements Feature To Stop Wallet Drainer Scams

MetaMask has updated its browser extension and wallet, making it harder for wallet draining scams to occur. Read on to learn more.

Unfortunately for NFT scammers, but fortunately for you and me, MetaMask has updated its browser extension and wallet. It has done this to make the platform more secure and to make it harder for these scams to occur. 

The new feature requires the user to grant permission to their wallet instead of automatically doing so with the ‘set approval for all’ warning. Even though this additional feature will help keep you safe, you should continue to exercise caution at all times. 

The Update

Starting immediately, the 10.18.0 update includes a software change that will affect how the platform will function. The extra layer of security means that MetaMask will ask for access permission rather than granting it automatically. 

 

This update is long overdue, especially as there have been a plethora of wallet-draining scams over the last few months. Even your favourite influencers and whales have fallen victim to, so this is good news for us all. Millions have been stolen, and hopefully, this is the start of the end of scams.

 

MetaMask is the leading Ethereum wallet software with over 21 million active users. Therefore, this extra layer of security is essential. With the raised awareness, we’re hopeful that people will no longer ‘blind sign’ malicious contracts and lose their assets.

By browsing through Twitter, we can see many in the NFT community commending MetaMask for quickly acting and addressing the situation. 

 

How To Stay Safe? 

While software updates and other security measure improvements will undoubtedly help to keep us safe, they won’t stop scams completely. It is crucial to take responsibility, continue to do your own due diligence, and exercise caution as it will help you spot and avoid scams. 

Staying up to date and educating yourself on the latest safety precautions is a must. At the end of the day, what is the point in stacking assets if you cannot protect them? 

 

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