MetaMask is Now Testing SetApprovalForAll Confirmation Window to Curb NFT Scams
With so many NFT scammers abusing the setApprovalForAll function, MetaMask is setting up a confirmation window to prevent users from signing away their assets unknowingly.
MetaMask ramps up efforts to fight back against NFT scammers
After tons of NFT scams involving the setApprovalForAll function, Metamask is looking to add a confirmation window before users sign away their NFTs. Alex Donesky, one of the developers of MetaMask shared a screenshot of what the new window looks like. See below:
Whenever a user is requested to sign transactions that call for setApprovalForAll function, a confirmation window such as the above will pop up instantly. The window will display a clear message, asking users whether they want to allow an outside party to access their funds. What's more, it will also state which asset the approval is for and which wallet address the user will grant access to.
If this goes live, it will help prevent many Metamask users, especially NFT newbies, from signing away their precious assets unknowingly on malicious websites. As of writing, users can only check the type of function that the transaction calls for by clicking on the Data tab as shown below.
In our previous article, we mentioned that this is not a problem at all if you're granting approval to trusted sites like OpenSea. However, NFT scammers often abuse the setApprovalForAll function. So, users need to be wary of what they're approving when dealing with shady Web3 websites.
Admittedly, MetaMask has taken too long to come up with such measures. Even so, many users are glad that the company is finally working on the much-needed feature. “Should have been this way from the beginning. Just tell the user in plain language what they’re accepting,” said Twitter user @MeatballMari0. Other than that, some suggested that the wordings should be red in color and bigger in size for more contrast.
For now, the SetApprovalForAll confirmation window is still under testing. Of course, you can always test it out yourself by following the steps outlined in a GitHub post by MetaMask. Hopefully, it won't take too long for the team to roll out this feature soon.