Metamask update: why it changes everything for your cryptos and NFTs

Metamask update: why it changes everything for your cryptos and NFTs

You should never sign before you see the devil – Not a week goes by that we don’t hear about the hack of a platform, a discord server or any project. Often, these hacks have one thing in common: a user clicking on a link or validating and signing a transaction without even reading it. Metamask is updating its app to help you.

The fox wallet plays it safe

Metamaskwhich is today one of the most famous web wallets, and certainly the most used, can’t block transactions for you. But he can to alert about the fact that what you are going to approve can, potentially, represent a very big risk.

The NFT are in 2022 what the Challenge was in 2021. The word is everywhere, every day millions of dollars are exchanged for small images, beautiful or ugly, expensive or not. And every day, millions of dollars are stolen via security vulnerabilities or fraudulent projects, to which the user has given rights without even knowing it.

Metamaskwhich is mainly used to validate these transactions, has therefore decided to bet on prevention, with the aim of helping users not to validate what could be dangerous.

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An update to raise awareness, but it’s up to you to be careful

This is why now transactions of type ” Set Approval for all “, which can be translated as “Give approval for all” are marked in bold so that the information makes ” tilt in the user’s head.

Metamask crypto wallet warns users of the risks of approving a transaction giving access to all funds
Metamask’s new validation can’t be missed – Twitter

Indeed, with this type of approval, you authorize the smart contract which requests access, to come and use in your wallet. Either immediately or whenever they feel like it, because the majority of users do not revoke given permissions.

So of course, this update will not prevent your wallet from being siphoned off, but the fact that your attention is drawn, and above all that you can understand what rights you are going to assign, is a real step forward towards security.
Metamask initiates the process, hope that others will follow, and that wallets and platforms will continue to evolve in this direction so that you, we, are aware of what we risk by accepting a transaction.

Security is important, and unfortunately it is often taken lightly. The best way to protect yourself of a flight or a scam is to be trained and informed. The more the user masters what he does, validates, uses, the lower the risks.

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