In a significant update aimed at safeguarding cryptocurrency transactions, MetaMask rolls out a Security Alert Feature on February 20, 2024.
This new tool, available in both the MetaMask extension and mobile app, is designed to warn users about potential scams and phishing attempts before they approve transactions.
Dive into how this feature works, how to enable it, and the networks it supports, ensuring your digital assets remain secure.
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Preventing Fraud with MetaMask's New Security Alert Feature
In an effort to combat fraud and enhance the security of cryptocurrency transactions, the popular cryptocurrency wallet MetaMask announced on February 20, 2024, the implementation of a new "Security Alert Feature" available in both its extension and mobile app versions.
The Security Alert feature is a fraud warning system provided in collaboration with the Web3 security company Blockaid.
It is designed to preemptively detect suspicious transactions, such as those associated with scams or phishing, and issue warnings before transaction signatures are made.
Although the feature was announced at the end of October 2023, it has now been integrated into all extension versions of MetaMask, and is also available as an experimental feature in the mobile app version of MetaMask.
Users can activate the Security Alert feature from the "Settings" menu in MetaMask (the feature is already enabled by default in the extension version, and it is expected to be enabled by default in the mobile version in the future).
For those using MetaMask's mobile app, navigating to the "Experimental" page through the settings and turning on the "Blockaid" switch will enable the Security Alert feature.
Supported Networks for the Security Alert Feature
As of the writing of this article, the Security Alert feature functions only on specific networks. As of February 20, 2024, the feature supports the following seven networks:
- Ethereum
- BNB chain
- Polygon
- Arbitrum
- Optimism
- Avalanche
- Linea
The official announcement also mentioned that to enjoy security protection across these networks, users need to update to "extension version 11.10" and "mobile app version 7.16."
In the world of cryptocurrency, where fraudulent activities, such as unauthorized transactions that can drain all assets from a wallet, are on the rise, it is crucial to make cautious decisions while signing transactions, utilizing features like the Security Alert function to enhance security.