Coinbase Wallet Adds Safety Features Following High-Profile NFT … – Decrypt
Coinbase says it is improving the safety and user experience of its Wallet app.
The crypto firm announced a number of new features on Monday aimed at improving blockchain transparency and security for Wallet users, adding transaction previews, token approval alerts, a blocklist of flagged dApps, and an a spam token management feature that automatically hides maliciously airdropped assets.
Transaction previews will allow Wallet users to better understand how engaging with a smart contract will change their Wallet balances before they sign, Coinbase explained, while token approval alerts aim to clearly notify the user if a dApp is trying to take their NFTs or crypto.
Interacting with any “flagged” dApp will also warn Wallet users before they engage with potentially risky contracts—hopefully leading to fewer users losing their crypto in unwanted situations like phishing scams and wallet drainers.
In a blog post, Coinbase Product Manager Ayoola John said the new features were implemented because crypto transactions “are often intimidating and lack transparency,” resulting in users becoming the victims of