Well-known cryptocurrency wallet MetaMask has recently implemented security measures to ensure the safety of NFT and DeFi assets.
Some of the changes made to the wallet are transparency; users know what they want to sign and authorize before they make the authorization.
However, this is on MetaMask extension on laptops and other supported devices, though the company intends to make extensions available to mobile devices very soon.
A remarkable feature included in these changes is the “SetApprovalForAll.” This feature repels malicious attackers that intend to steal NFT assets.
It will not let you fall into a hacker’s hand by unintentionally releasing your asset by granting access to them.
MetaMask also made the popup message about an impending transaction wider and covered the whole screen; in this way, you can see what you are about to do.
In addition, there is a way to revoke the access and approval you have given to some assets in case you feel something is incorrect. These changes came with the recent upgrade to MetaMask version 10.18.0.
The reason for this update is because of the incessant attack on NFT and DeFi assets In recent times. For example, some social media accounts were hacked, and the hackers manipulated the people into thinking top NFT projects inspired them.
They shared fake links, and some people unwittingly fell for the scam and connected their wallets, leading to a loss of their NFT assets. By addressing this issue of connecting to a wallet drainer by mistake, MetaMask has shown that they have the best interest of their customers at heart.
Brenden Mulligan, the founder of Premint, told Decrypt, a news platform, that major wallets must make drastic changes to their user interface. By emulating an excellent example of MetaMask other wallets could prevent the loss of assets of their users.