MetaMask incorporates Blockaid security alerts to safeguard users from fraudulent transactions by default.
After being first released on Ethereum in January 2024, the feature—which was created in association with security firm Blockaid—is currently operational across a number of blockchain networks, including Ethereum (ETH), Linea, BNB Chain (BNB), Polygon (MATIC), Arbitrum (ARB), Optimism (OP), and Avalanche (AVAX). According to Dan Finlay, co-founder of the firm stated:
“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.”
The Security Approach of MetaMask
Setting up security alerts by default is a preventative step meant to inform users of potentially dangerous transactions in advance. The move aligns with security measures taken by other browser extensions and wallets, such as Scam Sniffer, Wallet Guard, and Rabby.
With $1.7 billion lost to theft, hacking, or phishing in 2023 alone, security concerns in the cryptocurrency field are growing. Blockaid’s new integration of security warnings is a calculated move to reduce these dangers.
Blockaid is a 2022 startup that raised $33 million from well-known investors, like Sequoia, Ribbit, and Variant. Its transaction simulation tools improve wallet and decentralized application (dApp) security against phishing and hacking attempts.
When the number of monthly active users of the crypto wallet increased by more than 50% from September 2023 to January 2024, reaching over 30 million, security measures were implemented.
