Popular crypto wallet MetaMask is taking steps against fraud, phishing attempts and hacking. Accordingly, it provides a new feature to increase user protection. Let’s look at the details together.
MetaMask tightens security for its users
When we look at Kriptokoin.com, there is a new collaboration with the security company Blockaid. Accordingly, MetaMask is launching a new feature that provides security warnings. Starting today, MetaMask desktop users will be able to take advantage of the new feature by selecting under the MetaMask experimental setting and adding the Offline Privacy Protection Module (PPOM).
MetaMask’s senior product manager Bárbara Schorchit makes a statement on the subject. Accordingly, PPOM is essentially an offline security engine that can simulate and verify transactions and signatures before signing and only uses node RPC communication requests to a configured node provider. No other data is sent to an external server.
It will give warnings
Those who decide to participate in the first phase of the new feature process will see warnings if a transaction appears malicious. Additionally, the new feature will be available on the MetaMask mobile application later in November.
“By the first quarter of 2024, we expect this new feature to be seamlessly integrated into the wallet,” Schorchit said. Accordingly, we aim to have it enabled by default and be available to 100% of MetaMask users,” he says. Incremental distribution aims to avoid “false cases,” such as legitimate transactions being flagged as malicious. Additionally, this feature becomes a reliable addition among users.
Metamask, security and privacy
As for the stated privacy-centric aspects of Metamask’s new alert features, Schorchit explained that the new module eliminates the need to share every transaction and signature request with external parties. Accordingly, “Simulation and verification takes place in the wallet on the user’s device. The only communication needed is with the Blockchain itself through the user’s chosen node provider.” says.
The situation is remarkable considering the number of phishing scams and exploits that pop up every week. Accordingly, MetaMask addresses one of the biggest problems of the industry with its new feature. According to Blockaid estimates, approximately 10% of existing decentralized applications (dApps) are malicious. There is also a recent Consensys survey on Web3 perceptions. Accordingly, 47% of global respondents point out one of the main obstacles to entering the crypto ecosystem. According to participants, this obstacle is the abundance of fraud.
MetaMask and security
Ido Ben-Natan, Co-Founder and CEO of Blockaid, makes a statement regarding the issue. Accordingly, “The cryptocurrency ecosystem needs to be more secure to be ready for billions of users. “We are excited to work with MetaMask to lead the way in defining how a wallet should defend its users.” says.
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