Consensys Acquires Wallet Guard to Boost MetaMask’s Security Features

Consensys, a leading developer focused on Ethereum and the creator of the widely-used MetaMask wallet, has announced the acquisition of cryptocurrency security company Wallet Guard. This move aims to enhance the security of the MetaMask wallet, particularly against scams and unauthorized transactions. As part of the acquisition, the entire Wallet Guard team will be integrated into the MetaMask Product Safety Team, enhancing the wallet’s capabilities in scam and drainer detection through advanced transaction validation and client-side heuristics.

This acquisition comes on the heels of MetaMask’s recent integration of Blockaid security alerts, further emphasizing Consensys’s commitment to user safety in the blockchain and Web3 spaces. The financial details of the transaction were not disclosed.

The blockchain and decentralized application (dApp) sectors have witnessed significant amounts of funds being stolen through scams, highlighting the need for enhanced security measures. Wallet Guard’s technology is expected to bolster MetaMask’s existing security features, making it a more secure option for users navigating the Web3 ecosystem.

Patrick Berarducci, the lead for MetaMask and Infura at Consensys, highlighted the uniqueness of MetaMask in providing not just robust default security features but also the ability to enhance security through plugins via its Snaps extensibility platform.

This acquisition is part of Consensys’s broader strategy to strengthen its offerings in the blockchain space, following previous acquisitions such as Special Mechanisms Group (SMG), blockchain notifications service HAL, and wallet company MyCrypto in 2022.

The announcement was made on Wednesday, with further details available in a press release. The news underscores Consensys’s ongoing efforts to ensure the safety and security of its users in the evolving digital asset landscape.