Crypto wallet app MetaMask has enabled, by-default, integration of security alerts — powered by security firm Blockaid — for its extension and mobile app users across multiple chains.
Today's release, following a beta phase, aims to ensure that users of the self-custodial wallet automatically receive alerts about potentially malicious transactions.
These security alerts were integrated by default on Ethereum (via extension) in January 2024 and are now available for mobile and extension on the following networks: Linea, BNB Chain, Polygon, Arbitrum, Optimism and Avalanche.
The move mirrors existing security and transaction simulation products within wallets like Rabby or browser extensions like Wallet Guard, Scam Sniffer and others.
In 2024, MetaMask estimates that the security alerts will prevent hundreds of millions worth of dollar assets from being stolen.
“This is a crucial step towards ensuring that MetaMask remains at the forefront of secure, self-custodial crypto wallets for both new and experienced users,” said MetaMask cofounder Dan Finlay.
Security in crypto remains a key barrier to broader adoption. Globally, crypto users had $1.7 billion stolen, hacked, or phished in 2023. MetaMask wants to leverage Blockaid alerts to tackle security threats.
Founded in 2022, Blockaid offers a suite of tools that simulates transactions before execution — safeguarding integrated wallets and dApps like MetaMask, OpenSea, Zerion, and Rainbow from phishing incidents and hacks. Last year, the firm raised $33 million from Ribbit, Variant, Sequoia, and others.
MetaMask remains the most widely used crypto wallet app. Its monthly active users have grown more than 50% between September 2023 and January 2024, climbing from 19 million four months ago to over 30 million, according to data provided by the firm. This growth nearly matches the peak figures seen during the bull market in 2022.
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