MetaMask, a leading crypto wallet, has partnered with Web3 security firm Blockaid to strengthen security measures for its users across chains including Ethereum, Linea, BNB Chain, Polygon, Arbitrum, Optimism and Avalanche.
In a February 20 statement shared with CryptoSlatethe companies explained that the partnership would provide users with enhanced security alerts that would immediately notify them of threats such as phishing attempts, scams and hacks, while protecting their assets.
According to the statement, the companies have developed “a unique privacy-preserving module that effectively simulates transactions while eliminating the need to share every single transaction and signature request with external parties.”
The companies said the module enables a proactive security approach that could help prevent the loss of hundreds of millions of dollars in digital assets.
Dan Finlay, co-founder of MetaMask, emphasized the importance of these advanced security alerts in protecting users from phishing and hacking threats. He added that MetaMask aims to enable users to navigate the Web3 landscape with more confidence and security by pre-emptively thwarting malicious transactions.
Ido Ben-Natan, CEO of Blockaid, noted the pervasive threat of malicious activity within the Web3 ecosystem and emphasized the importance of such joint efforts to promote broader mass adoption while mitigating security risks.
Blockaid tools are integrated into various wallets and decentralized applications such as OpenSea, Zerion and Rainbow, protecting users from fraud, phishing and hacks.
Increasing the user base
Meanwhile, MetaMask also announced a notable increase in its user base, reminiscent of peak levels during bullish market periods.
The platform reported a remarkable 55% increase in monthly active users over four months, surpassing 30 million active users in January, up from 19 million in September.
MetaMask said the increase reflects the numbers observed during the 2021 bull market.
The company attributed this robust growth to mainstream adoption of the emerging industry, supported by robust regulatory frameworks, workforce expansion and technical advancements. It added that regulatory clarity in key jurisdictions such as the UK, EU and Hong Kong has fueled this growth.