Crypto / wallet

MetaMask just announced its update on 07/27/22. This update is critical because it will prevent "Wallet Drainer". What is Wallet Drainer Wallet Drainer is a way to attack the wallet that, through the smart contract and links NFT project with other wallets without admitting approval from the individual signature required to each wallet. How the Wallet Drainer works are following:fake NFT page with an artificial countdown to create urgencyvictim connects walletthe program will check valuable of NFTsvictim active the signature to transaction(s) to transfer ownership of NFTsprogram fake the "mint" and transaction will not interact with the smart contractthe process repetitive Here is how technically the program works and comprehensively addresses the potential impact of this attack. How MetaMask prevents such attack With an extra step to allow the wallet to get permission for all transactions, the user has a way to stop a bundle of transactions at once without permission allow from the user side. https://github.com/MetaMask/metamask-extension/pull/15010 You may think that is no a big deal but it saves a lot of NFTs project to prevent attacking users valuable assets. How to prevent the attack Never click on links from unidentified sources. Never click Google Ads for crypto services, instead go to the official website yourself. Always use Two-Factor Authentication (2FA) when possible. Google Authenticator is free to use, so use it. Also, double-check the website before ever connecting your wallet to the suspective website. If you enjoy reading my articles, buy me a coffee here.