MetaMask's Collaboration With Blockaid Unleashes A Web3 Wallet To Integrate Security Alerts

Web3 wallet company MetaMask teamed up with security firm Blockaid to launch native security alerts within its browser extension, making it one of the first self-custody Web3 wallets to include integrated security alerts.

Also Read: Top Of The Crypto Pack: MetaMask Leads Crypto Wallets In Monthly Visits, Named One Of Year's Best

What Happened: The feature officially launches in November 2023 as desktop users can choose the feature through MetaMask's experimental settings. By the first quarter of 2024, the new feature should be integrated and enabled into the wallet by default with plans to make it available to all of MetaMask’s users.

In April 2023, MetaMask and Blockaid collaborated to jointly launch Opensea security alerts as an opt-in experimental feature.

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join Benzinga on Nov. 13 for Fintech Deal Day and Nov. 14 for Future of Digital Assets. Secure a spot here to join them!

Why Does It Matter: Without impacting user privacy, MetaMask’s feature targets to prevent malicious transactions and protect users from scams, phishing attempts and hacks before they happen. Both companies believed these privacy-focused security alerts would protect crypto assets from theft.

The two companies developed a privacy-preserving offline (PPOM) module for simulating transactions and removing the need to share data with third parties.

In September 2023, MetaMask launched Snaps for the advanced user, with a Transaction Insights category. It will enable users to incorporate their preferred security layers by installing transaction insights.

MetaMask boasted more than 20 million monthly active users, thereby making it the most popular crypto wallet. Blockaid is a security startup company that recently emerged with $33 million in funding.

Blockaid flagged and protected the hack of Ethereum co-founder Vitalik Buterin’s X account, saving over $100,000 in assets and also made sure the CEO of Uniswap’s X account was protected from any losses.

Read Next: MetaMask Abracadabra: DeFi Wallet's Temporary Removal From Apple's App Store Baffles Users

Benzinga’s Future of Digital Assets conference is scheduled in New York on Nov.14. Attend and learn about crypto wallets and their policies to protect user funds. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm. 

Photo: Shutterstock