Thomas Daniels
MetaMask now automatically incorporates Blockaid’s security notifications to shield its users from harmful transactions. This newly implemented feature, the result of a partnership with the security enterprise Blockaid, is operational across several blockchain platforms such as Ethereum (ETH), Linea, BNB Chain (BNB), Polygon (MATIC), Arbitrum (ARB), Optimism (OP), and Avalanche (AVAX), expanding from its initial launch on Ethereum in January 2024.
Dan Finlay, a co-founder of the company, highlighted, “Integrating these security alerts as a standard feature marks a significant advancement in maintaining MetaMask’s position as a leader in secure, self-custodial cryptocurrency wallets, catering to both novices and seasoned users alike.” This move to integrate security alerts by default is a forward-looking approach aimed at alerting users about potentially dangerous transactions ahead of time. This development is in line with security measures adopted by other digital wallets and browser add-ons, such as Rabby, Wallet Guard, and Scam Sniffer, reflecting a broader trend towards enhanced security in the digital asset space.
Against the backdrop of escalating security issues in the cryptocurrency realm, which saw losses of $1.7 billion due to thefts, hacks, or phishing attacks in 2023, the integration of Blockaid’s security alerts is a tactical move to reduce such threats.
Founded in 2022 and having secured $33 million in funding from prominent investors like Ribbit, Variant, and Sequoia, Blockaid focuses on developing transaction simulation tools that bolster the defense of wallets and decentralized apps (dApps) against phishing and hacking efforts.
This security enhancement coincides with a notable increase in the user base of the cryptocurrency wallet, which saw a surge of over 50% in monthly active users from September 2023 to January 2024, surpassing 30 million.
