MetaMask continues to fight NFT fraud

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This has not been the case with NFT-related scams in recent months. has stopped reproducing. One of the best known of these has been the emptying of users’ NFT wallets into signing a fraudulent contract. Once the user signed up, the scammer gained access to part or even the entire wallet and was thus able to transfer and resell the NFT at will.

Very high quality NFTs like BAYC have been stolen multiple times. Some people have it lost millions of dollarsall due to a transaction.

In an effort to stem this increasingly troubling scourge, MetaMask, the leading Ethereum wallet with over 20 million active users, has added an interesting feature that should significantly reduce this type of fraud.

What is this update about?

With the 10.8.0 update, users get additional level of security. Therefore, the program will now ask you if you want the contract you signed to have access to some of your NFTs, which was not the case before.

If this access is not authorized, the person who precedes it not having access to your NFTsnor on any of your personal belongings stored in the crypto wallet in question.

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Prior to this update, access was automatically granted upon signing. This MetaMask post aims to make it possible greater clarity for users what they sign and think twice before accepting any agreement.

More than relevant addition

When it comes to NFT wallet scams, this is the situation, to put it mildly. more than critical.

Like the MetaMask team very awareIn June last year, Alexander Donesky, one of the software developers, said:

It is very urgent to develop something, as this technique is so widespread.

Actually phishing. most used from these NFT thieves because it is very easy to set up and extremely effective.

Both via Twitter, especially the recent hack of several NFT influencer accounts, and via Discord, scammers it is on all fronts. Unfortunately, many people still fall into these traps, which are very easy to collect.

This isn’t just a beginner’s mistake, as many people have very large wallets. they have also been victims of these scammers.

So it’s time to take such measures, complicating the life of the scammers. However, users’ awareness and caution can definitely make a difference. the best brakes considering these pitfalls that abound on the Internet3.

Vigilance remains in the order of things

While this addition to MetaMask is to be commended and will help reduce this type of scam, It would be utopian to think that this would mean the end of these scams. in the NFT world.

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Indeed, even if The scammers will do their best looking for new ways to steal those coveted digital assets.

So, if you want maximum protection against it, it’s best not to rely on crypto wallet updates. In any case, be careful Be extremely alert and practice good behavior In respect.

Here some suggestions To protect yourself as much as possible from NFT scams, remember the following:

  • Never share your private key with anyone else
  • Always check the URL of the website where you are authorizing the transaction.
  • Make sure you check the social media for the respective project to make sure the project website or discord has not been hacked.

By doing these things, drastically reduce the chances become a victim of one of these systems.

If you need more information on NFTs:

What is NFT? The complete guide for beginners

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