Coinbase Wallet Brings Some New Features for the Prevention of Thefts

A cryptocurrency company called Coinbase just released many updates to its Wallet software that will improve security and user experience. To safeguard users from harmful actions like spam tokens and airdropped assets, these tools include transaction views, token acceptance notifications, and an automated blocklist of flagged Apps.

Users can also get token approval warnings when dApps want to access their NFTs and cryptos from their wallets. The likelihood of financial loss because of fraudulent activities is reduced if some suspicious activities are discovered with flagged dApp interactions. Warning signals will notify users before participating in potentially dangerous scenarios such as phishing attacks and emptying funds from wallets. According to a blog post by Coinbase Product Manager Ayoola John, the new capabilities were developed because crypto payments are frequently overwhelming and difficult to identify, making it simpler for clients to fall victim to phishing scams, and other types of fraud.

Customers can now disengage from dApps from the Wallet app. This is possible due to revision to Coinbase’s revocation functionality. It also enables users who have several crypto wallets and different Web3 IDs. Additionally, users of the Wallet program can access up to 15 different Ledger addresses. 

Coinbase Wallet aspires to remain in front of the curve using modern security features that can thwart fraudsters’ techniques in order to shield clients from such scams.