Consensys, the Ethereum-focused software developer, has recently acquired cryptocurrency security firm Wallet Guard. The acquisition aims to enhance security measures within the popular MetaMask wallet.
The entire Wallet Guard team will now be a part of Consensys, specifically joining the MetaMask Product Safety Team. This strategic move is expected to bolster the existing security features of MetaMask and provide additional protection to users.
Last year, the blockchain ecosystem witnessed a significant amount of funds being stolen from users due to various scams. Wallet Guard specializes in improving scam and drainer detection through advanced methods such as transaction validation and client-side heuristics.
MetaMask has been known for its strong default security features and the ability to enhance security through plugins like the Snaps extensibility platform. By integrating Wallet Guard’s expertise, MetaMask aims to further strengthen its security infrastructure.
Consensys has been actively expanding its portfolio through strategic acquisitions. In addition to Wallet Guard, the company acquired blockchain microstructure designer Special Mechanisms Group (SMG) and blockchain notifications service HAL last year. Furthermore, Consensys acquired wallet firm MyCrypto in 2022.
Overall, the acquisition of Wallet Guard by Consensys signifies a commitment to enhancing security within the blockchain ecosystem, particularly for users of the MetaMask wallet.