MetaMask Security Boosted by ConsenSys Acquisition of Wallet Guard

MetaMask Security Upgraded as ConsenSys Acquires Wallet Guard

MetaMask Security– Consensys has announced the acquisition of Wallet Guard, a security tool designed to safeguard digital assets and data from theft, scams, and fraud.

This acquisition is aimed at integrating Wallet Guard’s advanced security features into MetaMask to enhance user protection within Web3.

With Wallet Guard’s expertise in transaction validation and client-side heuristics, MetaMask users can anticipate improved security capabilities, including better detection of scams and drainage attempts.

Wallet Guard’s Integration

The integration will see the Wallet Guard team joining Consensys within the MetaMask Product Safety Team to ensure a seamless transition.

In a written Q&A session, Patrick Berarducci, Consensys’ lead for MetaMask and Infura Business Group, elaborated:

Our goal is to protect users from evolving threats in our ecosystem, such as malicious DApps and scams, using advanced phishing detection, web scrapers, and APIs for blocklist and transaction analysis that enable sophisticated scam detection.

Berarducci further explained to Cointelegraph that Consensys aims to eliminate user fund losses through the Wallet Guard integration.

Safeguarding users

The acquisition underscores a growing emphasis on user safety amidst the escalating risks of crypto hacks and scams in Web3.

According to Chainalysis‘ 2024 Crypto Crime Report, scams alone accounted for over $1.7 billion in crypto asset thefts in 2023.

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