Metamask teamed up with Asset Reality to enable fraud victims to reclaim their stolen crypto and digital assets
MetaMask To Reclaim Stolen Crypto
Asset Reality has teamed up with MetaMask, which ConsenSys made. As a way to fight crypto fraud, the partnership will let users access and reclaim seized crypto and digital assets.
The union will help people who lost money or valuables in the MetaMask fraud and phishing attacks get them back.
MetaMask says that there are a lot of phishing schemes and even more targeted spear-phishing attacks. When it comes to the safety of crypto wallet users, these are the main things to worry about.
Most of the time, scammers put on a friendly face and help clients understand crypto’s technical jargon. The help is a trick to get people to give away their money.
The company plans to combine the information from many victims in the hopes that this will lead to the identity of the fraudster. Also, it aims to cut down on the costs of getting back the stolen property. But before victims can use the program, they have to fill out an investigative ticket.
If the partnership holds up, the MetaMask wallet could be important. Most people who fall for scams will be able to get their digital assets back.
Harry Denley Encourages Crypto Fraud Victims To Come Forward
Harry Denley, a cybersecurity analyst at MetaMask, said he was sad that bad people use the space.
“Malicious actors are attempting to capitalize on a lucrative market because new customers are often upbeat.Besides, the market potential is exciting and promising. Yet, most clients are not experienced with having complete control of such valuable assets.”
Harry Denley, Cybersecurity Analyst At MetaMask
He then said that cybercrime is a worldwide business that is worth a lot of money. Also, he stressed how important it was for victims of hacking to come forward, no matter how much money they lost.
On the other hand, traditional recovery takes a long time and is often expensive. Aside from that, there is no guarantee that the money will be returned. Alex Herman, who works for Asset Reality, says that recovering cryptos is hard because they are “pseudo-anonymous.”
In cryptocurrency, the most important things are how the end-user is regulated and how decentralized systems are used.
Traditional methods, on the other hand, would instead make transactions reversible and freeze accounts. Herman says that people who are not honest can also use unclear methods to make it harder to find the stolen money.
Users Safety Is The Ultimate Focus
MetaMask will ask for all the information it needs about phishing sites, vectors, and money lost due to fraud.
Asset Reality will also handle the situation for MetaMask users who fell for the scam. They will make a question about each fraud activity and lead any conversation with users.
Both MetaMask and Asset Reality want to keep users safe. They want to improve the educational tools and other services on their platform. Also, there are already plans for getting back on your feet.
