Developer of Little Fox Wallet MetaMask acquires security tool
Consensys, the developer of the well-known cryptocurrency wallet MetaMask, announced that it has acquired the blockchain security tool "Wallet Guard" to improve users' security protection and prevent various potential hacking attacks and phishing scams.
Wallet Guard is a security application specially designed to protect cryptocurrency wallets, protecting users' assets through real-time monitoring and alert systems. Through this acquisition, MetaMask can directly integrate Wallet Guard’s services to provide users with stronger information security protection.
Consensys also acquired blockchain research institutions Special Mechanism Group (SMG), Hal, and MyCrypto last year to further strengthen and expand the business group in an attempt to consolidate its position in the blockchain industry.
Source: Consensys Little Fox Wallet MetaMask developer acquires security tool Wallet Guard
A total of $1.7 billion in crypto assets was stolen in 2023
In the currency circle, many users suffer from hackers. An investigation report by blockchain analysis company Chainalysis shows that cryptocurrency hacks occurred frequently around the world in 2023, with users losing a total of US$1.7 billion. Most of these hacking incidents are related to wallet security vulnerabilities, so improving wallet security has become a top priority.
MetaMask is one of the most commonly used crypto asset wallets among people in the cryptocurrency community, claiming to have more than 30 million monthly active users and has been downloaded more than 100 million times.
Therefore, how to protect the security of user assets has become a top priority, and one of Consensys' strategies is to further strengthen security protection measures through the acquisition of Wallet Guard.
Wallet Guard: Information security is the key to the popularity of Web3
In the official press release, Wallet Guard co-founder Ohm Shah pointed out that information security and fraud prevention are very important for the popularization of Web3, and said that he was honored to bring professional knowledge to MetaMask's global users.
MetaMask has integrated security alerts for users
Users who are using MetaMask may have recently discovered that security prompts may be displayed before signing a contract recently. This is because MetaMask has cooperated with the blockchain security platform Blockaid in February this year to integrate a security alert system for users.
It is said that these security alerts will be expanded to multiple blockchains to ensure that users are effectively protected when trading on different chains. MetaMask users can use the alert system to identify and avoid potential attacks or scams to manage and trade crypto assets more safely.
Users can now turn on the alarm system in MetaMask APP>Settings>Security and Reminders. When signing a contract in a supported blockchain, the system will determine suspicious transactions and provide corresponding prompts. However, MetaMask also reminds that this function cannot guarantee that all malicious activities can be detected, and careful investigation must be done when signing any contract.
Image source: MetaMask MetaMask has integrated security alerts for users
Finally, "Crypto City" also adds several articles related to blockchain security, so that readers can learn more about hackers' common techniques:
Wolf with goat's skin! Beware of fake Chrome extensions, hackers will use this trick to steal assets
Don’t click on Google search ads! 4 million Mg cryptocurrency has been hacked, 4 tools to help you prevent fraud
A must-see to prevent hackers! How do "state-level hackers" steal your cryptocurrency and launder the money?
A must-read for Telegram newbies! Teach you 6 tips to prevent hacking and fraud in 3 minutes
