a feature to fight NFT spam on the Phantom wallet

The wallet editor phantom, based on Solana (SOL), has announced the launch of a new feature for burning non-fungible tokens (NFTs) sent by scammers. In a blog post published on Aug. 18, the Phantom team said that NFT spam has evolved into a useful tool for adversaries looking to steal money from users.

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“We are still in the Wild West era of Web3. As the crypto ecosystem grows, so does the number of malicious actors seeking to steal money from users,” Solana’s team explains. “The rapid growth in popularity of NFTs has led to an increasingly popular attack method: NFT spam.”

The wallet issuer said scammers take advantage of Solana’s low transaction fees and send this type of NFT to users, usually with a link to supposedly receive a free gift.

After clicking the link, users are redirected to a site where they are tricked into approving a transaction to ‘claim’ or ‘claim’ a free NFT, resulting in the loss of the money .

“These scams are getting more sophisticated,” the wallet says, noting that scammers can “change the metadata of an NFT to avoid being blocked.”

In an effort to fix this issue, Phantom created the feature Burn NFT that allows you to remove unwanted NFTs. Users also receive a small SOL deposit every time they use this feature.

Other methods have been put in place to combat NFT spam. Phantom said it would blacklist the contract address and domain of an NFT spam as soon as it is identified.

“Our blacklist already has over 800 addresses of malicious NFT contracts and is integrated with how we identify scams in our site blocker,” the wallet said.

Phantom also fights NFT scams with its “Phishing Alert System”, which warns users against “any malicious transaction that could compromise their assets or permissions”.

In addition to a significant increase in DeFi protocol hacks this summer, there has also been a spike in NFT spam targeting NFT owners.

As we reported, the popular NFT collection Bored Ape Yacht Club (BAYC) lost 200 ETH in digital assets in early June due to an exploit. NFT Influencer Zeneca and NFT Registration Platform PREMINENT were also victims of hacks in mid-July.

And that’s not all. As noted, Solana’s team attributed the widespread hack that affected more than 8,000 portfolios and resulted in the loss of more than $8 million in portfolio funds. slope. The Phantom team had also stated “that the reported exploits” [des portefeuilles Phantom] are due to complications in importing accounts to and from Slope.”

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