With the help of Blockaid, MetaMask now offers a safety alert system respectful of the privacy and aimed at fight against crypto-currency theft.
The well-known provider of decentralized Ethereum wallets MetaMask announced on Tuesday the deployment of a new security layer designed in partnership with cybersecurity specialist web3 Blockaid.
According to a press release, the new module triggers security alerts and blocks malicious transactions (scams, phishing and hacking), while preserving user confidentiality.
In detail, the solution, which has been gradually rolled out since yesterday starting with Metamask desktop users, simulates transactions by removing the need to share data with third parties. Self-custody wallet users usually have tokens stolen by mistakenly signing malicious transactions.
With these native security alerts, MetaMask not only improves user security, but also sets a new standard for privacy-preserving security in the Web3″ space, boasted MetaMask co-founder Dan Finlay.
Earlier this year, MetaMask and Blockaid began testing their alert system with Opensea users, preventing the theft of more than $500 million in just a few months, according to the announcement.
For the ecosystem to be ready for billions of users, it needs to be more secure. We’re delighted to be working with MetaMask to lead the charge in defining how a wallet should defend its users,” said Ido Ben-Natan, head of Blockaid.
Israeli publisher specializing in web3 cybersecurity, Blockaid recently closed a $33 million financing round.
MetaMask clarified that users of its Snaps functionality will still have the option of incorporating their favorite security layers. “The new security alerts are intended to complement rather than replace Transaction Insights Snaps, creating multiple layers of protection,” concluded the ConsenSys-owned wallet provider.
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