MetaMask integrates Blockaid security alerts by default to protect users against malicious transactions.
The feature, developed in collaboration with security firm Blockaid, is now live across multiple blockchain networks, including Ethereum (ETH), Linea, BNB Chain (BNB), Polygon (MATIC), Arbitrum (ARB), Optimism (OP) and Avalanche (AVAX), following its initial introduction on Ethereum in January 2024.
“This is a crucial step towards ensuring that MetaMask remains at the forefront of secure, self-custodial crypto wallets for both new and experienced users,” said company Co-Founder Dan Finlay.
MetaMask’s security strategy’ security strategy
Implementing security alerts by default is a proactive measure designed to warn users of risky transactions preemptively. The announcement parallels security initiatives by other wallets and browser extensions like Rabby, Wallet Guard, and Scam Sniffer.
In the backdrop of rising security concerns within the crypto space, where $1.7 billion was lost to theft, hacks, or phishing in 2023 alone, the new integration of Blockaid’s security alerts represents a strategic effort to mitigate such risks.
Blockaid, established in 2022 and has raised $33 million from notable investors, including Ribbit, Variant, and Sequoia, specializes in transaction simulation tools that enhance the security of wallets and decentralized applications (dApps) against phishing and hacking attempts.
Security measures were adopted when the crypto wallet’s user base grew significantly, with monthly active users increasing by more than 50% from September 2023 to January 2024, reaching over 30 million.
Source: https://crypto.news/metamask-blockaid-security-integration/