Notorious Ethereum digital wallet MetaMask revealed an update of its wallet 10.18.0 that addresses the problem of increasing NFT scams with its new interface that requires setApprovalForAll permission.
Allowing permission for this function will empower smart contracts with the power to access or transfer out all NFTs and tokens from the desired wallets.
While celebrating the MetaMask update, the security firm Wallet Guard stated on Twitter that the smart contract is asking for broad permissions for any funds locked in the wallet. The new interface in MetaMask 10.18.0 can be used to counter “wallet drainer” exploits.
Screenshots posted to MetaMask’s GitHub software development repository show a new prompt that uses a larger font than the rest of the interface. The example text reads, “Give permission to access all of your BAYC?” (or Bored Ape Yacht Club), with an additional warning reading, “By granting permission, you are allowing the following account to access your funds.”
This update could also be integrated with other third-party browser extensions such as Wallet Guard Chrome extension.
Also Read: Metamask Comes Up With a Plan to Help Crypto Scam Victims
