Crypto wallet app MetaMask integrates security alerts for users
Crypto wallet app MetaMask has introduced security alerts powered by Blockaid for its extension and mobile app users on multiple chains. This feature ensures that users automatically receive alerts about potentially malicious transactions, aiming to enhance the security of the self-custodial wallet. The security alerts were initially integrated on Ethereum in January 2024 and are now available for mobile and extension on networks including Linea, BNB Chain, Polygon, Arbitrum, Optimism, and Avalanche. This move aligns with existing security and transaction simulation products within wallets and browser extensions. MetaMask estimates that these security alerts will prevent the theft of hundreds of millions of dollars’ worth of assets in 2024.
MetaMask’s efforts to combat crypto hacks
Security remains a significant concern for broader adoption of cryptocurrencies. In 2023, global crypto users lost $1.7 billion due to theft, hacking, or phishing incidents. MetaMask aims to address these security threats by leveraging Blockaid’s alerts. Blockaid offers transaction simulation tools that protect integrated wallets and dApps like MetaMask, OpenSea, Zerion, and Rainbow from phishing attacks and hacks. Last year, the company raised $33 million in funding from Ribbit, Variant, Sequoia, and other investors. MetaMask is currently the most widely used crypto wallet app, with monthly active users growing by over 50% between September 2023 and January 2024.
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