Software developer Consensys has recently acquired cryptocurrency security firm Wallet Guard. This was announced in a joint press release on Wednesday, where it was revealed that the entire Wallet Guard team will be joining the MetaMask Product Safety Team as a part of Consensys.
The deal was made without disclosing any financial details. Last year, the world of decentralized applications on the blockchain, also known as Web3, witnessed multiple instances of funds being stolen from users through various scams.
With the acquisition of Wallet Guard, which specializes in detecting and preventing scams and fraudulent activities through transaction validation and client-side heuristics, this issue can be addressed more effectively.
This comes after the integration of Blockaid security alerts into MetaMask last year.
