According to Coinbase, it is enhancing the security and usability of its Wallet software.
The addition of new functionality to Coinbase Wallet comes just days after Proof Founder Kevin Rose was the target of a phishing scam that cost him over $1 million in NFTs.
The cryptocurrency company unveiled a number of new features on Monday aimed at enhancing blockchain security and transparency for Wallet users, including transaction previews, token approval alerts, a blocklist of flagged dApps, and an automatic hiding of maliciously airdropped assets feature for spam tokens. Before they sign, Wallet users will be able to better understand how using a smart contract will affect their account balances thanks to transaction previews, according to Coinbase, while token approval alerts are designed to make the user aware if a dApp is attempting to take their NFTs or cryptocurrency.
Any “flagged” dApp interaction will also alert wallet users before they engage with potentially dangerous contracts, hopefully preventing users from losing their cryptocurrency in undesirable circumstances like phishing scams and wallet drainers.
Additionally, Coinbase is adding support for customers with multiple Web3 identities and numerous crypto wallets and has upgraded its revocation functionality to enable users to uninstall dApps from their Wallet app.
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