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MetaMask Enhances Security Alerts for Web Extension and Mobile App Users
Self-custody crypto wallet MetaMask has extended its default security alerts to web extension and mobile app users across multiple blockchains. In an announcement, the Ethereum-based wallet revealed that its MetaMask Security Alerts will now be available on Linea, BNB Smart Chain, Polygon, Arbitrum, Optimism, and Avalanche in addition to Ethereum.
The privacy-focused MetaMask Security Alerts, initially added in October, are now default for all Extension users and will soon be available on Mobile under “Experimental”. Users are encouraged to opt-in on Mobile for enhanced security.
What are MetaMask Security Alerts?
MetaMask Security Alerts proactively notifies users during transactions when they interact with a recognized threat. The feature simulates the requested transaction, identifies potential malicious patterns, and provides warnings to users if the transaction is anticipated to lead to a loss of funds. Developed in collaboration with security partner Blockaid, the effectiveness of the feature was demonstrated during a phishing scam in September 2023 and other security breaches.
Impact of MetaMask Security Alerts
During a phishing scam in 2023, users who had enabled MetaMask Security Alerts were able to avoid the scam as the feature identified the threat 24 hours before the hack occurred, saving users $100,000 worth of assets. The alert system also played a crucial role in signaling a security breach involving Uniswap founder Hayden Adams’ Twitter account.
According to MetaMask, the security alerts powered by Blockaid helped users save over $1 million during the recent Ledger Connect Kit incident in December, preventing an estimated ~ $1.15 million worth of assets from being stolen.
Surge in User Numbers
The introduction of the new security features coincides with substantial user growth for MetaMask, with monthly active users surging from 19 million in September 2023 to 30 million in January 2024. Additionally, MetaMask has announced a partnership with trading platform Robinhood, allowing users to buy digital assets with Robinhood’s order flow and transfer their crypto assets to their MetaMask wallet.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
