Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto Wallets => Topic started by: sirty143 on December 31, 2023, 06:32:43 AM

Title: Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts
Post by: sirty143 on December 31, 2023, 06:32:43 AM
Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts

(https://i.imgur.com/AJsSvYSm.jpg)

In a recent development, Metamask, a self-custody Web3 platform developed by Consensys, has partnered with Blockaid, a Web3 security provider. The collaboration aims to integrate security alerts... See more for yourself here (https://news.bitcoin.com/metamask-and-blockaid-unite-to-fortify-web3-security-with-security-alerts/).

Your opinion is greatly appreciated.
Title: Re: Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts
Post by: yhiaali3 on January 17, 2024, 03:54:40 AM
Quote
The security alerts represent a new development in the ongoing efforts of Metamask and Blockaid to improve Web3 platform security. The two entities have implemented a privacy-preserving module to simulate transactions without requiring users to disclose their data to third parties, aiming to maintain user confidentiality and foster a secure digital environment.
Yes, maintaining transaction security and privacy is the first criterion that should be worked on. This is the most important thing for any user to maintain security and privacy at the same time.

This will be a very exciting development if this partnership succeeds in achieving its goal, although I doubt the credibility of Metamask, especially after the privacy violation incident after the Russian invasion of Ukraine, where it was found that Metamask had access to user data and blocked Russian users, which is completely inconsistent with privacy.
Title: Re: Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts
Post by: Husires on January 18, 2024, 10:47:35 AM
The security partnerships concluded by Metamask, although they seem good to enhance the security of the wallet, can be viewed as the ability for third parties to access user data, as it is an SPV wallet. It can prevent users from making transactions, track their addresses even those that they have not used, and the possibility of knowing the address. Their IP address was therefore good in terms of security, but bad in terms of privacy.
Title: Re: Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts
Post by: Brewmaster on January 20, 2024, 05:57:13 AM
The partnership between Metamask and Blockaid to fortify Web3 security with security alerts is a positive step for enhancing the safety of users engaging with decentralized applications (DApps) and the broader Web3 ecosystem. Security is a critical concern in the decentralized space, and collaborations like this demonstrate a commitment to addressing potential risks and vulnerabilities.

Integrating security alerts can provide users with timely notifications about potential threats or security issues, allowing them to take necessary precautions. As the Web3 landscape continues to evolve, initiatives that prioritize user security contribute to building trust and confidence in the adoption of decentralized technologies.
Title: Re: Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts
Post by: hugeblack on January 23, 2024, 08:55:39 AM
Quote from: Brewmaster on January 20, 2024, 05:57:13 AM

Integrating security alerts can provide users with timely notifications about potential threats or security issues, allowing them to take necessary precautions. As the Web3 landscape continues to evolve, initiatives that prioritize user security contribute to building trust and confidence in the adoption of decentralized technologies.
What protection can these services provide that seeds do not? It is practically impossible to guess the seeds if they are generated randomly, and therefore its conservative approach is towards improving the user experience to ensure that it generates the seeds correctly and avoids phishing, but cooperative agreements may open the door to leaking customer data between MetaMask and third parties.
Title: Re: Metamask and Blockaid Unite to Fortify Web3 Security With Security Alerts
Post by: Baofeng on January 28, 2024, 03:22:26 AM
Quote from: hugeblack on January 23, 2024, 08:55:39 AM
Quote from: Brewmaster on January 20, 2024, 05:57:13 AM

Integrating security alerts can provide users with timely notifications about potential threats or security issues, allowing them to take necessary precautions. As the Web3 landscape continues to evolve, initiatives that prioritize user security contribute to building trust and confidence in the adoption of decentralized technologies.
What protection can these services provide that seeds do not? It is practically impossible to guess the seeds if they are generated randomly, and therefore its conservative approach is towards improving the user experience to ensure that it generates the seeds correctly and avoids phishing, but cooperative agreements may open the door to leaking customer data between MetaMask and third parties.

Right, that's one pitfall of this kind of agreements between wallets and a 3rd party supposedly to protect us from phishing as they will have the pertinent data or can get it without us knowing in some sense.

So in the surface, it looks good as we can think that we can be protected. But if you look deeper, it might lead to security leaks specially customers data and this could be a big problem to all of us.