web3, web3 security, security, scam, cryptoscam, antiscam, protection, honeypots, phishing, scam alert
Meet a shiny-new package of W3A updates, leap through tricky scam traps, and shrink the risks associated with tokens.
W3A team is now dedicated to protecting the authentic enjoyment of web3, with improved extension powers. Access control of high-value NFTs, prevent wash trading risks, anticipate cooldowns, avoid contract-halting, block transaction approval, restrict token transfers, prevent token burning, and avoid token stocking hurdles. Plus, stay alert on signing requests and use Edge Detection honeypots to stay secure.
Stay protected on Edge
Now, you can enjoy a multi-browser experience with Web3 Antivirus, which now supports Opera, Firefox, and Edge.
Detect honeypots & slippage
Smart contract vulnerabilities are still common, and honeypot scams are a large threat. In addition, slippage (the difference in prices from when you order and when the deal is executed) can also have an effect. W3A flags restrictions on NFTs and ERC20s to prevent honeypots and help restore confidence in web3. However, always use caution when shopping, and make sure you are aware of all the possible risks.
Control access to high-value NFTs
NFT owners face risks when approving transactions. Current protocols require approval of the entire NFT collection, regardless of value or price. Web3 Antivirus offers an overview of these risks with a breakdown of the NFT collection's total price before approval.
Keep the wash trading risks at bay
To prevent exposure to wash trades, Web3 Antivirus shows the exact percentage of suspicious transactions associated with a given NFT. This helps you understand the risk level of the deal and the number of transfers involved.
Stay alert on signing requests
To help you safeguard against suspicious signing requests, Web3 AntiVirus sends an alert when one is received. You can then choose to block the request instantly.
Anticipate distressing trading cooldowns
Trade can be rushed and hindered by trading cooldowns, which are imposed when contracts restrict transactions within certain periods of time. For example, if a method can only be called once a week, month, or other timeframe, this limits predictability. W3A helps ensure suspended trades do not occur by detecting potential cooldowns within smart contracts.
Avoid the contract-halting problem
Unwanted slowdowns can ruin important deals by halting contracts. Fortunately, Web3 Antivirus can scan contracts for halting methods and provide a warning if an execution risk is detected.
Keep transaction approval blockers off
When you are looking for potential deals involving tokens, W3A can help protect you from transaction approval blocking schemes which can prevent further liquidity, such as when a user buys tokens from a DEX and realizes that the contract behind them stops them from continuing. W3A can identify these schemes before you complete your purchase.
Restrict token transfers on your behalf
W3A's warning can help protect you from the risk of ERC20 token theft. This special warning will alert you if a contract you are considering is potentially unsafe, as it allows the creator to remove all of your funds without notification.
Steer clear of unexpected token burning attempts
We typically trust we have control over our funds and their prices. But what if you invest in ERC20, ERC1155, and ERC721 tokens with an apparently fair price, only to find their prices are out of control? The contract could contain a hidden method which allows the owner to burn a portion of the token supply, including tokens held in user wallets. This severely increases the threat of price manipulation. Web3 Antivirus ensures against such threats by identifying malicious burning methods.
Beware trade hurdles as you stock tokens
When buying new ERC20 or ERC721 tokens, be vigilant of any potential risks. Some tokens may promise extraordinary rewards but fail to deliver, leaving you stuck with a large amount of altcoins without any hope of liquidity. W3A warns of contracts that may reject token transfers if you have an excessive balance.
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Another big update is incoming, so let's end today's session. We look forward to having you back soon!