Crypto NewsCybersecurity NewsNews

MetaMask Announces New Partnership to Aid Users who Fall Victim of Crypto Scams


The Ethereum wallet provider Metamask has announced that it will try to support its users who have fallen victims cryptocurrency scams and phishing attacks to recover back their digital assets.

Asset Reality Partners Metamask

Asset Reality, a company that investigates, recovers, manages and sells crypto assets, stated on Thursday that it will be collaborating with MetaMask to help users recover stolen crypto assets anytime they fall victim to fraud. The opportunities offered by Asset Reality are only exclusive to Metamask users.

MetaMask is a popular software that runs as a web3 wallet and browser. The economic activity of web3 has grown rapidly and MetaMask has gained over 30 million active users monthly from this growth MetaMask seeks to offer its users with more interaction and hope to recover digital assets so they teamed up with Asset Reality to offer more assistance.

Alex Herman, MetaMask’s support product lead said in an interview, “We wanted to offer something to users beyond a handshake and goodluck at the end of our interaction. So patnering with Asset Reality gives users a way to start an investigation to try and track down their stolen funds and possibly lead to a recovery down the line. It means there’s at least some light at the end of the tunnel.”

The deal will cover individual cases and reports and Asset Reality will act as a case handler for MetaMask’s affected users. Although services may be free for MetaMask users, they may still need to cover legal costs should they decide that pursuing a recovery makes economic sense for them, Asset Reality stated.

They explained that if these costs were too high they would help them join forces with other victims as a group and conduct a much larger forensic investigation.

According to Asset Reality reports from Action Fraud, the average amount of loss in crypto scams has reached $25,000 but has occasionally exceeded $1 million. The recovery process involving blockchain analytics and Asset Reality will also work with Consensys, MetaMask’s parent company, in pursuing these large-scale scam operations.