Newest MetaMask update helps users avoid scams! The new MetaMask update to version 10.18.0 now has a feature to help users avoid getting their wallet drained.
About The Update
With the increasing amount of NFT scams, hacks, and phishing attacks this year, popular crypto wallet MetaMask has added an extra step into their system to help users avoid becoming a victim of scams.
This new update to version 10.18.0 will begin to ask for the users access and approval when a transaction is requesting “Set Approval For All“
.@Metamask 10.18.0 is out 🙌
This update includes the much-needed emphasis for when a transaction is requesting "Set Approval For All"
Kudos to the team for addressing this quickly pic.twitter.com/zWHVVPszzR
— Wallet Guard (@wallet_guard) July 27, 2022
This new update is a great first-step in stopping scammers from easily getting access to and draining users’ wallets. With the ” Set Approval For All” permission notification, users will now be made aware if a certain link is trying to drain their wallet and be able to avoid the scam.
Following A Wave Of Scams
Members of the MetaMask team admitted earlier this year that they were rushing to create updates and features that will help with the issues of wallet draining scams due to the sheer influx of them that were taking place this year.
Alex Donesky, a MetaMask Software Engineer posted onto Github back in June that “there is some urgency to get something out there since this method is so commonly used.”
Earlier this year, a number of major Discord servers as well as verified Twitter accounts including Bored Ape Yacht Club (BAYC)’s Instagram account were hacked and used to share phishing links that led to wallet drainers. These hacks and scams ultimately led to the scammers successfully stealing millions worth of users’ NFTs and tokens.
Although MetaMasks new update will be able to help users avoid becoming victims to these types of scams, many in the community noted that NFT scams and hacks are becoming more and more sophisticated by the minute. This means that in the near future, MetaMask may need to create even more updates to avoid scams.