Ethereum Builder Consensys Buys Wallet Guard to Strengthen MetaMask Security

July 4, 2024

in Breaking, News

Reading Time: 3 mins read

The entire Wallet Guard team will join Consensys within the MetaMask Product Safety Team.

The acquisition follows the integration of Blockaid security alerts into MetaMask.

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Consensys, the Ethereum-focused software developer and builder of the popular MetaMask wallet, has bought cryptocurrency security firm Wallet Guard, the companies said on Wednesday.

The entire Wallet Guard team will join Consensys within the MetaMask Product Safety Team, according to a press release. The financial terms of the deal were not disclosed.

The blockchain-based Web3 world of decentralized applications saw its fair share of funds stolen from users through scams alone last year. Wallet Guard, which further improves scam and drainer detection through transaction validation and client-side heuristics, follows last year’s integration of Blockaid security alerts into MetaMask.

“MetaMask is unique among wallets in providing not only strong default security features, but also security-enhancing plugins through our Snaps extensibility platform,” said Patrick Berarducci, MetaMask and Infura lead at Consensys, in a statement.

Consensys has been active in the acquisition trail, last year buying blockchain microstructure designer Special Mechanisms Group (SMG) and blockchain notifications service HAL, and wallet firm MyCrypto in 2022.

Edited by Parikshit Mishra.