Consensys, the Ethereum-focused software developer and creator of the popular MetaMask wallet, has acquired the cryptocurrency security firm Wallet Guard. This strategic move aims to bolster MetaMask’s security capabilities, further enhancing user protection against scams and fraudulent activities.
The entire Wallet Guard team will integrate into Consensys within the MetaMask Product Safety Team. This acquisition follows last year’s integration of Blockaid security alerts into MetaMask, demonstrating Consensys’ commitment to improving security measures for its users.
Patrick Berarducci, lead at MetaMask and Infura, highlighted MetaMask’s distinctive approach to wallet security. “MetaMask is unique among wallets in providing not only strong default security features but also security-enhancing plugins through our Snaps extensibility platform,” he said.
The financial terms of the deal were not disclosed, but this acquisition is part of a broader strategy by Consensys to strengthen its portfolio and improve the overall security of its products. In the past year, Consensys has also acquired blockchain microstructure designer Special Mechanisms Group (SMG) and blockchain notifications service HAL. In 2022, they added the wallet firm MyCrypto to their roster.
This series of acquisitions underscores Consensys’ dedication to building a robust and secure ecosystem for decentralized applications and blockchain technology. Joe Lubin, Founder and CEO of Consensys, continues to drive the company forward with a focus on innovation and security, as evidenced by these strategic moves.
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