MetaMask Integrates Blockaid Security Alerts For 30M Users Across Multiple Chains

The popular self-custodial crypto wallet, MetaMask, has completed an integration with Web3 security firm Blockaid to provide security alerts to its users across multiple networks by default. MetaMask extension and mobile app users will now automatically receive alerts about potentially malicious transactions. 

The security alerts were integrated by default on the Ethereum Mainnet (via extension) on Jan. 29. They are now available for mobile and extension on Avalanche, Arbitrum, BNB Chain, Linea, Polygon, and Optimism.

The company said the move aims to protect web3 wallet users from the increasing prevalence of thefts and scams. MetaMask estimated that a substantial $1.7 billion was stolen, hacked, or phished from crypto users last year. The latest move mirrors the security and transaction simulation tools in wallets like Rabby or browser extensions such as Scam Sniffer, Wallet Guard, Blocksec’s Metadock, PeckShield’s Aegis, and similar options.

MetaMask co-founder Dan Finlay said:

“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.” 

MetaMask is the most popular crypto wallet app. The company reported the number of Monthly Active Users (MAUs) has climbed 55% in four months — jumping from 19 million in September to over 30 million in January. This expansion nearly equals the “peak figures seen during the bull market in 2022.”

This latest development coincides with MetaMask’s efforts to integrate with major financial companies. On Feb. 6. MetaMask partnered with Robinhood, the popular trading app with over 10M monthly clients. Now, Robinhood can directly add funds to their MetaMask accounts.

Moreover, MetaMask introduced its Buy Crypto feature last year. In collaboration with banks and credit card companies serving 189 countries, this initiative allows the onboarding of fiat currency to crypto. The crypto wallet was also integrated with PayPal and Apple Pay in 2022.

Phishing Attacks on the Rise

According to a January report from Scam Sniffer, a web3 security company, approximately 324,000 victims lost $295.5 million due to phishing attacks. The largest incident involved a single user losing $24 million to a wallet drainer. The report mentioned that losses to phishing consistently increased throughout 2023.