Consensys, the Ethereum developer behind MetaMask, has acquired Web3 security app Wallet Guard to enhance MetaMask’s user protection. This acquisition aims to add a new layer of security to the popular non-custodial wallet, safeguarding users from hacks and crypto scams.
MetaMask has integrated Wallet Guard’s browser extension, which offers real-time scam detection and protection against wallet drainers. Despite its popularity, MetaMask’s staking product has faced regulatory scrutiny from the SEC.
The Wallet Guard team will now join MetaMask, continuing their mission to protect users from within Consensys. In recent months, MetaMask has also added security alerts from Blockaid, a Web3 security solution.
Crypto scams resulted in over $1.7 billion in losses in 2023, as per Chainalysis. This acquisition underscores Consensys’ commitment to bolstering security in the crypto space, aiming for long-term user trust and safety.
