Web3 Antivirus 0.5: Keep Scams Off, Protect Tokens, Avoid Deal & Transaction Blockers

Meet a shiny-new package of W3A updates, leap through tricky scam traps, and shrink the risks associated with tokens.

More than ever, the W3A team is now busy leaving slim chances for malicious methods that call off the authentic fun of web3, left and right. Come along, embrace the powers that the extension has just acquired — we’re enthused about easing you in.

Here’s what the new version lets you do:

• Stay protected on any browser
• Detect honeypots & slippage
• Control access to high-value NFTs
• Keep the wash trading risks at bay
• Stay alert on signing requests
• Anticipate distressing trading cooldowns
• Avoid the contract-halting problem
• Keep transaction approval blockers off
• Restrict token transfers on your behalf
• Steer clear of unexpected token burning attempts
• Beware trade hurdles as you stock tokens

Switch between browsers as needed

First things first: now that we further extend the product’s digital presence, be our guests, and indulge yourselves in a truly multi-browser experience. Other than Chrome and Brave, from now on Web3 Antivirus supports Opera, Firefox, and Edge.

Detect honeypots & slippage

Remember the smart contract vulnerabilities we’ve been describing earlier? Well, honeypot scams are still disturbingly huge these days. Add to this slippage (that is, the fluctuation that defines the difference between asset prices the moment you order them and the moment your deal actually happens). Just like that, the market intricacies scar your faith in web3.

To help restore it as you shop for NFTs and ERC20s, W3A red-flags restrictions that prevent their further transfer and resale, thus enabling you to avoid honeypots. So, the warning shows, saying to proceed with caution, — and it’s now your call.

Control access to high-value NFTs

No secret that transaction approval underlies certain risks for token owners. The thing is, most protocols require approval of entire NFT collections, regardless of how valuable the assets are, and how their prices differ.

With the updated Web3 Antivirus, one attains a clear overview of risks behind approval, as the extension displays an overall price breakdown of the NFT collection that one’s about to give access to.

Keep the wash trading risks at bay

We’re assuming, dealing with NFTs that involve excessive wash trade operations is nobody’s first choice. Having this in mind, we’ve enabled Web3 Antivirus to display the exact percentage of suspicious, supposedly wash, transactions behind smart contracts.

With regards to the overall number of transfers associated with your NFT in question, this will give you a proper understanding of the risk level the deal entails.

Stay alert on signing requests

Figuring you’d like to protect yourself from suspicious signing requests, we’ve decided that keeping you updated on them might be helpful. Any time you get a message asking for your signature, Web3 Antivirus will flash the alert — and you’re free to block the signing request straight away.

Anticipate distressing trading cooldowns

There’s a rush of trade, and there are annoying bottlenecks that make a mess of your deal plans. By this, we here mean trading cooldowns. One faces them when it turns out that a contract imposes transaction restrictions within certain periods of time.

Imagine you’re about to call a method, as whoop — not going to happen, for the limit is, say, once a week, month, or whatever. Since everyone likes predictability better, W3A assists in keeping suspended trades off by detecting potential cooldowns behind smart contracts.

Avoid the contract-halting problem

Joining the batch of unwelcomed slowdowns able to destroy important deals, contract halting. Quite literally, this one’s about making all transaction activities come to a halt. But no worries, you aren’t on your own with the problem now.

The renewed Web3 Antivirus scans contracts for halting methods and warns in case there indeed IS a risk of losing the ability to further execute transactions.

Keep transaction approval blockers off

Yet another hurdle one happens upon the very moment one is in dire need of prospective deals involving tokens, a method that blocks transaction approval. Namely, cases are when a user buys tokens from a DEX, and eventually finds out that the contract behind them prevents further liquidity.

For you to stand your ground and ensure no such a method gets in your way, W3A discovers transaction approval blocking schemes within contracts early on, before you proceed with them.

Restrict token transfers on your behalf

One does not simply access your ERC20 tokens and transfer them like nobody’s watching — not anymore. Pretty much like other major risks, this one goes away with W3A’s special warning.

Meaning, you’ll be aware the contract you are in two minds about is potentially dangerous, as it underlies a method enabling the creator to transfer all of your savings without any notification.

Steer clear of unexpected token burning attempts

Normally, we believe to be in power to protect funds from fluctuations. Say, you come across a launching project that releases ERC20, ERC1155, and ERC721 tokens. The price is okay, so you’re in for buying some. What if we told you the tokens’ price is pretty out of control? In fact, they even risk vanishing from your balance for good.

Given that the contract contains a hidden method for the owner to burn a fair share of tokens, those in the user wallets included, the odds of price manipulations break through the ceiling, don’t they? Add to this unwanted maneuvers with your wallet balance — and get even more shivers.

In the face of heavy threats, Web3 Antivirus works as a safety net that keeps outside exploits away by identifying uncontrolled burning attributed to a malicious method.

Beware trade hurdles as you stock tokens

Once you’re in the market for some brand-new ERC20 or ERC721 tokens, it’s critical to be forearmed under the risk of transaction rejections. The fact is, some tokens may seem to promise wild opportunities, making one end up tricked by whopping trade expectations.

Much like a honeypot scheme, this one lures users into buying excessive altcoins that further get stuck on their balance without liquidity perspectives. W3A warns when a contract can disallow token transfer in case you have an excessive amount of them on your balance.

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Now we indeed can call it a day. Sure, yet another major update is pretty much on its way, which saves us the next lively onboarding session. Can’t wait to have you here again soon!