What’s New in Metamas
The virtual currency wallet “Metamask” has installed a function to change the RPC network with a browser extension. It also announced on the 2nd that it has added a toggle (ON/OFF) function that uses third-party services such as phishing detection and incoming transaction notification.
When creating a new wallet, users can click on “Set advanced privacy settings” to change their RPC providers and toggle features that send requests to third party services that help with phishing detection and identifying incoming transactions, among others pic.twitter.com/O54jUltsgN
— MetaMask (@MetaMask) February 2, 2023
Metamask claims that the new extension gives users maximum control over their data. These new features aimed at improving privacy can be adjusted in “security and privacy settings”.
In the background of the release of the new function, the development company Consensys has been criticized for admitting that it is collecting IP addresses and Ethereum (ETH) wallet addresses on Metamask’s basic RPC network “Infura”.
Relation:Cryptocurrency wallet Metamask to limit storage period of customer data
RPC is a relay that communicates information between nodes that store large amounts of blockchain data. Infura, developed by Consensys, has been criticized by many users for its policy, arguing that if the user’s wallet address and IP address set that is stored is leaked, there is a risk that personal information will be identified. The company has since indicated that it intends to limit the data storage period to seven days, but has not decided when it will be implemented.
This update makes it easier to change RPCs, but in the settings screen MetaMask says, “You can choose RPCs, but remember that any RPC will receive your IP address and Ethereum wallet and process transactions.” warn.
Even if it changes, it means that it is necessary to confirm how other RPC developers handle wallet addresses and IP addresses. Still, the implementation of the new feature is seen as positive by some, as the US company Consensys’ policy is particularly high-risk for users.
Relation:Explanation of points to note when using Web3 wallet Metamask
A new phishing detection toggle has been added to Metamask’s security and privacy settings.
Phishing is a cybercrime that deceives users by directing them to fake websites and defrauding them of authentication information and personal information. Attackers impersonate companies and projects, and lure users to malicious sites with fake emails and social media accounts. There is no end to the cases of signing malicious contracts such as “Monkey Drainer” and stealing assets from users’ wallets.
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Metamask has been operating “Ethereum Phishing Detector” as a verification database for phishing scams. Various open source projects have contributed to combating phishing sites and scams.
8/ Open Source Blocklist
We created an open source, community-maintained list of malicious domains that we block Phantom users from accidentally connecting to.
The blocklist is updated daily and it currently stands at 2,000+ malicious domains that Phantom users are safe from. pic.twitter.com/aiPZac3HDO
— Phantom (@phantom) January 26, 2023
MetaMask’s competitors, such as Solana wallet Phantom and multi-chain Frontier, have already offered fraud and phishing attack detection capabilities for some time.
Relation:Gemini calls attention to phishing outbreak
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