Consensys has announced that Privacy-Preserving Security alerts are now live. These have been developed by MetaMask in association with Blockaid. Privacy-preserving security alerts aim to help users prevent the theft of their funds. Per the estimate made public by Consensys, the community can expect that Privacy-Preserving Security alerts will help prevent the theft of billions of dollars.
Security measures ideally aim to prevent malicious activities like phishing, scams, and hacks. That is precisely what Privacy-Preserving Security alerts will do, in addition to informing users about what could have happened. This further eliminates the need for users to share their information with third parties.
Privacy-preserving security alerts are live as of October 31, 2023, for desktop users who can opt-in to experience the offering. It will go live for mobile users later in November. The full-fledged, seamless integration is expected to conclude by the end of the first quarter of 2024. Meaning, all the users of MetaMask will then have access to Privacy-Preserving Security alerts.
With this, MetaMask has become the first wallet to enhance security features for users without asking them to share their information with someone else—that is, a third party.
Users of Web3 wallets are typically required to share their information with prudence. Blockaid and MetaMask have developed a tool to eradicate this obstacle for users who are uncomfortable providing their personal information. Transactions and signatures are now secure, and Privacy-Preserving Security alerts are solely responsible.
Dan Finlay, the Chief Ethos Officer at Consensys and Co-Founder of MetaMask, has said that MetaMask is now not only enhancing the security aspect but is also helping the industry keep up with the pace by setting standards for user security. Dan has expressed his commitment to continue innovating and empowering users to navigate Web3 with confidence, without worrying about any kind of online malicious activity.
Users must continue to exercise caution, as malicious actors constantly enhance their capabilities to damage the ecosystem. There may still be funds at risk, waiting to be drained by an action that hackers have not yet carried out. The safety aspect of MetaMask can be read in detail in MetaMask reviews that also shed light on more aspects, including, but not limited to, support for a hardware wallet, countries, languages, coins accepted, and network charges.
Blockaid has a reputation for serving the community with its tools. For instance, it was only its proactive scanning abilities that were able to identify bad actors behind the hack of Vitalik’s X, formerly Twitter, account.
Consensys is calling Privacy-Preserving Security Alerts a game changer, making the Web3 ecosystem more dynamic. MetaMask and Blockaid have also been recognized for identifying OpenSea security alerts back in April 2023.