Metamask - new feature that detects scams

[ije07]

Metamask includes upgrades that are sufficient for further security in order to reduce losses from its use, but all of this is solely our fault because we are careless when we wish to conduct transactions. However, with a function like that, it can be simpler for us to receive a warning before visiting a questionable investing application or website, thus I am quite pleased with the upgrade.

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[Luffygroove]

Wow, it's really great news. I think we need more of these things. We need more parties who care about the security of investing in crypto, since security is one if not the most important thing. Even if it won't handle the scam issue, at least it can educate people and minimize the risk. Each day, scams and trials are coming like mushrooms on rainy days, and efforts like this from big players in the crypto world would be much appreciated. We've been exposed to many scams almost every day, and it's really worrisome. No doubt this kind of move could help.

[Strongkored]

A good move from the metamask wallet and hopefully when the user gets a warning like that it will follow what is shown because sometimes what makes the user lose coins is ignoring the notification because they think it's a system error especially if the step is to take a coin airdrop, so actually the good intentions of metamask must also be followed by the awareness of its users for security.

[MIner1448]

The new Metamask feature you mentioned could be useful in protecting users from blockchain fraud. The feature allows the user to check if the wallet they are about to use is on the list of known fraudulent wallets. If the wallet is on this list, then this may indicate that its owner may be trying to deceive users.
But as you rightly point out, despite this feature, people can still get scammed and lose their money. Therefore, it is very important to be careful and vigilant when dealing with cryptocurrencies, using only verified and reliable sources of information and wallets.

[darewaller]

Finally such prevention has come, it's just mad that so many scams impersonating dapps stealing money through complicated means which abstract itself from becoming too obvious and they're successful at it, it needs to stop eventually.
Even though many have stated that such thing might be just futile attempt but regardless at least there's still warning that could just prevent some from making the transaction.
It's just made these days that to just use some smart contract we should be looking out for the fake version for it, even worse if we forget in revoking the permission of using the ERC20 it's gonna get stolen eventually.
It seems metamask team has finally realize that such thing is so rampant and this need immediate prevention.

We that are not new in here can now easily detect scams but we are still happy with the implementation made by Metamask because it helps newbies to possibly prevent being scammed. Gone are the days that when a newbie gets scammed, they will then blame all crypto and never go back here. Worse is they also warn the other people that they know to not engage here. That kills the adoption.

It's kind a late for Metamask to think of the idea but I guess this is better than nothing at all because at least they try and we know that they are concern. I just hope that other wallet providers will follow it and made their own versions too on how can we prevent crypto scams.

[AakZaki]

This will be very helpful, we can see that currently there are very many Daaps scam sites and some have trapped thousands of users and lost their assets. Metamask provides a very useful feature, unconsciously metamask will warn us when trying to connect a wallet with a scam site. But conscious vigilance must still exist, manually check the site to be visited and connected to the wallet, that will be the first rule that must be carried out to make it safer.

[podluznyj]

This will be very helpful, we can see that currently there are very many Daaps scam sites and some have trapped thousands of users and lost their assets. Metamask provides a very useful feature, unconsciously metamask will warn us when trying to connect a wallet with a scam site. But conscious vigilance must still exist, manually check the site to be visited and connected to the wallet, that will be the first rule that must be carried out to make it safer.

now there are a lot of scammers who can hack a wallet from which you can steal a lot of your savings, so you need to monitor your data a lot and nowhere to give your keys, scammers are now very active in this regard and, as for me, there is not enough protection from wallet developers

[Apocollapse]

I wonder why a dapps don't have a signature that we can try to verify if the site is legit or not, just like in Bitcoin non custodial wallet. This can prevent any people to not get scammed, as long as the site doesn't get hacked. Many altcoins project mostly ask the user to trust the project rather than giving a choice to the user to prove if it's legit or not. I think it's not that hard to implemented since we can also sign a message from ETH address.

[BitSwapNow]

Its about time. This overhaul of security features was long overdue. You can also check out walletGuard. This is a project a friend of mine is involved in personally. Pretty cool free plugin i think is only on chrome however.

[sokani]

From what I understand the feature is still in its experimental stage and it's only available on Ethereum mainnet, and it's accessible via both desktop computers and mobile phones. The feature looks cool and it's designed against airdrop scams and I hope they can make it available in other chains.

[Jackl87]

Few days ago Metamask announced development of new feature with the help of Opensea and Blockaid in order to help people not connect their wallets to known scams and lose all of their money that way. I am sure that people will still lose money this way, but I think that this feature will help to some degree. 

That is definitely a very useful feature, even though it obviously only works with addresses and sites that are already confirmed as a scam. Still, a lot of people don't have the time to always stay up to date with the latest news about the new scams and hacks in the crypto space, that are basically happening each and every day. So this feature will definitely protect those people from getting hacked.
In the recent days and weeks i heard from a lot of people that they have switched to other wallets for example rabby wallet, because they are easier to use and more smooth and stuff like that. So it definitely is important that metamask keeps improving in order to not lose their top spot.

[AakZaki]

now there are a lot of scammers who can hack a wallet from which you can steal a lot of your savings, so you need to monitor your data a lot and nowhere to give your keys, scammers are now very active in this regard and, as for me, there is not enough protection from wallet developers

The main protection is from knowing yourself that this system will remain vulnerable. Every scammer has their own methods and new ones are always coming up. Scammers are indeed very active and are constantly looking for their victims to get lots of benefits. I even use a hardware wallet that is never connected to any dapp and that's only for long term assets.

[bastian466]

Actually the safety and security of our wallets is in our own hands how to take good care of them.  this time metamask provides support to further warn us to review or rethink if we want to connect the wallet. with that, we have a kind of alarm warning us that doing so is dangerous and can be detrimental. hopefully other crypto wallet platforms can implement the same program or can be better than this

[yhiaali3]

We need a lot of this development because scams are becoming "unbearable" in altcoin, my wallet is filled with hundreds of these "shitcoin" scams.

I'm glad to see this new feature which will be very useful protects the user in minimum large numbers of known scam coins.

[poodle63]

I knew some wallet like metamask really need to up their game in term of detecting scams because there has been so many cases of someone got their wallet drained to the point that they are losing so much money just because they recklessly interacted with some smart contract hoping to get some airdrop out of it, or maybe even mint NFT for free yet it allows the spending of their token through those smart contract which is ridiculous.

[blockman]

From what I understand the feature is still in its experimental stage and it's only available on Ethereum mainnet, and it's accessible via both desktop computers and mobile phones. The feature looks cool and it's designed against airdrop scams and I hope they can make it available in other chains.

The other chains have to respond to this development. When the detection of scams isn't really their thing but they have to when a lot of reports swarming them about scam projects that are going through with ETH and other supported chains. I think from here, there will be followed up developments and this gives the idea to the other developers that are also working with the others so that means, it's a very welcoming development and at the same time a very helpful feature that's going to give everyone the benefit to detect scam coins and will benefit a lot for those who's always into various tokens.

[Silberman]

To be honest I'm very impressed with the current developments in Metamask, because apart from the security features you mentioned, Metamask also has many new features such as swap and britge. I think in the near future there will be a lot of development by the metamask team.

This is indeed a good update and a big game changer, imagine being tagged as a scam wallet and freezes your crypto this can save a lot of users from falling into a fake wallet. What will happen though if your wallet being tagged as a scam? Are they going to release the crypto or seize it and airdrop it to the public?

Can they do that? Because this is really dangerous, there is a big difference between tagging the owner of a wallet or an address as a potential scammer and having their coins frozen, this feature could easily be abused either by the ones implementing it or by malicious people which may argue they were scammed when it was not the case and get the wallet of an innocent person tagged and frozen, so we need to think about this twice as wallets providers are becoming more and more like banks, and I doubt this is something which will benefit us as a community.

[borovichok]

I knew some wallet like metamask really need to up their game in term of detecting scams because there has been so many cases of someone got their wallet drained to the point that they are losing so much money just because they recklessly interacted with some smart contract hoping to get some airdrop out of it, or maybe even mint NFT for free yet it allows the spending of their token through those smart contract which is ridiculous.

NFTs games are overhype and have led many people becoming victims of scams. People with no knowledge to understand the risks management involved in the space, will experience heavy losses on their way to investing in projects. NFTs scams are numerous online, acknowledge the fact that scams do exists in all sections of cryptocurrency. I apply preventive measures before taking any steps, because I've suffered heavy losses in the hands of these fraudulent activities and would never invest in project I know absolutely nothing about.

[yazher]

This might not be big for veteran users because just one look at the site they know that the site is a scam. But for newbies, this is helpful because the way it pops up they will automatically be aware of the situations and they will quickly avoid those sites that are scams. These are really the updates we need from other wallets as well and from this, I'm sure there will also be lots of updates regarding this one prioritizing their user's safety is really what they need so that they will gain more users in the future.

[bitgolden]

I wonder why a dapps don't have a signature that we can try to verify if the site is legit or not, just like in Bitcoin non custodial wallet. This can prevent any people to not get scammed, as long as the site doesn't get hacked. Many altcoins project mostly ask the user to trust the project rather than giving a choice to the user to prove if it's legit or not. I think it's not that hard to implemented since we can also sign a message from ETH address.

First of all, there are so many websites and projects that want to steal your money, even if it's not a rugpull, even if they make a legit website, eventually we all know that it will end and it will not exists any longer. I personally know that it's going to hurt a lot of people and it should not really be a big deal.

I personally think that if you are investing into something that you are not certain about the website, you are already making a mistake and you should avoid that. Tons of people do that, they are looking at brand new stuff and end up losing money because they fall for the trap. These days most project devs just want to make money for themselves and not really see the project success as a priority.