Consensys Acquires Wallet Guard To Improve Metamask Security

Consensys acquisition Wallet Guard to improve Metamask security (Photo; Doc. Mandee)

JAKARTA - Consensys, recently announced the acquisition of the Wallet Guard, a browser extension that focuses on protecting digital assets from theft and fraud. The move aims to integrate Wallet Guard security features into Metamask, a popular digital wallet among crypto users.

This acquisition comes amid persistent security challenges in the Web3 ecosystem, where fraud and hacking caused significant financial losses. According to a 2024 crime report by Chainalysis, more than 1.7 billion US Dollars (approximately IDR 27.8 trillion) of crypto assets were stolen through fraud by 2023. Consensys plans to leverage Wallet Guard's advanced security machine to strengthen Metamask's defense mechanism against such threats.

Quoted from Bitcoin.com News, Joe Lubin, co-founder of Ethereum and Consensys CEO, stressed that Wallet Guard integration will improve Metamask's security capabilities. This includes increased fraud detection and transaction validation to protect users from malicious activity.

Wallet Guard is quickly becoming the main security tool with advanced capabilities and continuous innovation that is in line with Consensys' goal of putting user safety on the front lines. We are very pleased to welcome them to our team," said Lubin.

The blockchain company also noted that Metamask will benefit from Wallet Guard's expertise in real-time protection and better security. This collaboration aims to build several layers of security, making it increasingly difficult for fraudsters to succeed.

Consensys also revealed that ongoing partnerships with other security companies will continue to ensure comprehensive threat coverage. "This Wallet Guard integration is a significant step in the right direction," added Lubin.

This strategic step is seen as Consensys' effort to strengthen a more secure and reliable Web3 ecosystem. With increased security incidents in the crypto world, users increasingly need reliable solutions to protect their digital assets.

"This is good news for all Metamask users. This additional security will provide peace of mind and confidence in transactions," said a crypto user in Jakarta. We hope that Consensys will continue to innovate and present even better security features.