New standard replaces transaction code with human-readable explanations to reduce billions lost annually to phishing and wallet drains.
The Ethereum Foundation and major wallet developers introduced Clear Signing, a standard aimed at preventing users from unknowingly approving malicious transactions. The initiative replaces complex code with plain-language explanations during transaction approvals.
Billions in crypto assets have been lost to phishing attacks and wallet drains, often due to users misinterpreting transaction details. High-profile incidents, including the Bybit hack, highlighted the need for improved security measures as Ethereum targets broader adoption.
The standard seeks to enhance transparency and reduce fraud risks, particularly for mainstream and institutional users entering the ecosystem.