- MetaMask has partnered with cybersecurity firm Blockaid to introduce a security feature that alerts users about potentially malicious transactions
- Blockaid, founded by veterans of Israel’s Unit 8200 cyber intelligence, recently raised $33 million in funding
- The collaboration aims to reduce losses from scammers and hackers, with MetaMask being among Blockaid’s early adopters
MetaMask has teamed up with cybersecurity company Blockaid to offer a new security feature that aims to warn users of a potentially malicious transaction. The popular self-custody crypto wallet has joined forces with the security startup founded by veterans of Israel’s Unit 8200 cyber intelligence which recently secured a substantial $33 million funding round. MetaMask is among Blockaid’s early adopters, with owner Consensys hoping that it will help reduce losses to scammers and hackers.
Full Rollout Coming by Early 2024
MetaMask desktop users have the opportunity to opt-in at the initial integration phase, with the MetaMask mobile app receiving the update later in November. MetaMask plans to seamlessly integrate this feature by default into the wallet for 100% of MetaMask’s users by the first quarter of 2024, ensuring a gradual rollout to prevent false positives and establish user trust.
Users will receive alerts if a transaction is flagged as potentially malicious, with the new feature aligning with MetaMask’s commitment to privacy because it eliminates the need to share every transaction and signature request with external entities. The entire simulation and validation process occurs within the user’s device, with communication limited to the blockchain itself via the user-selected node provider.
Huge Step Forward
MetaMask desktop users can opt in to the new security feature through the MetaMask experimental setting, which is accessed by adding the Privacy Preserving Offline Module (PPOM) within the application. This module serves as an offline security engine capable of simulating and validating transactions and signatures before committing to them.
Given the persistent threat of phishing scams and exploits in the cryptocurrency space, MetaMask’s latest security feature represents a substantial step forward in addressing one of the industry’s most significant challenges.
