Skip to main content

Crypto Twitter shares security concerns regarding Meta’s recent NFT integration news

Meta recently announced its latest NFT feature will allow users to connect their digital wallets to Instagram and Facebook.

On Aug 29, Facebook and Instagram’s parent company Meta announced that its users will now be able to post digital collectibles and Non-Fungible Tokens, or NFTs, across both platforms by simply connecting their digital wallets to either site.

While Meta’s announcement may have seemed to some like a mass adoption win for some digital asset enthusiasts, not all members of Crypto Twitter were thrilled by the news.

Skeptical users took to social media to express concerns surrounding the security and privacy of the data disclosed when digital wallets are connected to these social media platforms.

Twitter user and Web 3 community member NPC-Picac tweeted, “I don't think entrusting digital collectibles to connect to “Meta” is in any way smart”

Another Crypto Twitter community member, CryptoBartender, raised concerns about what Meta could possibly do with the data they access from digital wallets, tweeting, “So they can figure out which wallets are yours and keep tabs on you and your crypto activities?”

Some users felt that publicly attaching valuable digital assets to one’s identity could turn users into targets for fraud and theft. A user operating under the handle famousfxck questioned, “This is great for adoption. But isn´t it also dangerous?”

Others shared their thoughts on individuals broadcasting even more personal data for the benefit of companies that have long histories of abusing users’ data and privacy.

In the announcement, Meta disclosed that, as part of keeping its platforms safe and enjoyable, “people can use our tools to keep their accounts secure and report digital collectibles which go against our community guidelines”. Meta has not yet shared any concrete plans it has to keep its user's digital wallet-related data safe.



from https://ift.tt/zigwQ9V
https://ift.tt/wk05VbL
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...
Post a Comment
Read more

How Social Platform Chingari is Using Web 3.0 to Transform the Traditional Way We Use Social Media

The world is changing. This isn’t news to anyone, but sometimes it is nice to realize that—contrary to news headlines—not all the change is bad.  In fact, the last decade has seen so much innovation and so many improvements to technology that even 2015 seems like a different world.  Internet speeds, connecting with anyone globally (for free), and our ability to reach large groups of people without a middleman is nothing short of revolutionary. When it comes to technology evolution, this often happens with different iterations.  Once a system is mature, there’s a better idea of what we would like to change and improve.  We go back to the drawing board, target our creative minds at the issues, and create a new version that has evolved to better meet our needs.  The Internet has followed this model since its inception, evolving through three distinct stages.  We are only at the cusp of the third stage, called Web 3.0, with technologies such as blockchain and ...
Post a Comment
Read more

Osprey sues Grayscale for misrepresenting likelihood of GBTC ETF approval

Osprey alleges its only competitor on the BTC OTC trust asset market gained its 99.5% market share by misrepresenting the likelihood of its trust becoming an ETF. Digital asset manager Osprey Funds filed suit against Grayscale Investments in Connecticut Superior Court on Jan. 30, alleging violation of the state’s Unfair Trade Practices Act. The suit concerns Grayscale advertising and promotion of the Bitcoin ( BTC ) exchange-traded fund (ETF) it is seeking to create.  Osprey stated in the suit that it is the only competitor to Grayscale on the over-the-counter traded Bitcoin trust asset management market, and Grayscale maintained its leading position through deceit: “Only because of its false and misleading advertising and promotion has Grayscale been able to maintain to date approximately 99.5% market share in a two-participant market despite charging more than four times the asset management fee that Osprey charges for its services.” Specifically, Osprey alleged that Graysc...
Post a Comment
Read more