MetaMask Financial News

ConsenSys, the developer of the popular crypto wallet MetaMask, has reduced the retention of MetaMask user data to 7 days following massive community backlash.

In a privacy update published Dec. 6, ConsenSys, the developer of the popular MetaMask browser wallet, said it would reduce its retention of user data such as wallet addresses and IP addresses to seven days. Previously on Nov. 24, ConsenSys updated its privacy policy to clarify how Infura, or MetaMask's default Remote Procedure Call (RPC), works with user data such as including IP addresses. The revelation sparked controversy in the crypto community regarding privacy concerns, leading the firm to clarify that IP addresses collected through MetaMask will not be monetized or "exploited." 

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Russia’s largest bank Sber — formerly known as Sberbank — continues developing its blockchain platform by integrating it with the Ethereum blockchain.

Jordan Belfort, the former stockbroker known as 'The Wolf of Wall Street,' claims that he lost more than $300,000-worth of crypto in a hack last year, and that he moved all his assets from exchanges into cold storage.

After community backlash received from an initial privacy policy revision on Nov. 23, ConsenSys, the parent company of MetaMask, released a statement to reiterate the intentions of its data collection.

Major Ethereum (ETH)-focused blockchain company ConsenSys updated its privacy policy on Wednesday, stating that the popular crypto wallet MetaMask will be collecting certain user data - much to the dissatisfaction of the privacy-loving community. The wallet co-founder, however, said that this can be "fixed soon." 

Blockchain software technology firm ConsenSys continues working on expanding blockchain interoperability by introducing a new tool to the MetaMask wallet.

MetaMask users will now have the ability to track the value of their nonfungible token (NFT) portfolio through its latest product. The wallet provider announced a new feature on Nov. 2, which will bring updated pricing information for the over 5,000 NFT collections held by MetaMask users.

Blockchain technology firm ConsenSys will spend $2.4 million annually to fund its newly launched MetaMask Grants DAO aimed at driving further development of the Web3 ecosystem.

Digital asset custody platform GK8 has partnered with 2ND Market, a Brazilian crypto holding company, to expand cryptocurrency product offerings in Brazil — a move both companies say would support continued adoption in Latin America’s largest economy. 

Traders who use the Ethereum network are familiar with the ERC-20 technical standard and have most likely traded and invested in tokens that utilize it. After all, its practicality, transparency and flexibility have made it the industry norm for Ethereum-based projects.

Institutional investment is pouring into the crypto world, notably the nonfungible token (NFT) scene. In a reaction to the influx, MetaMask Institutional announced another addition to its custodial services offerings for institutional-level clients.

Fantom (FTM) is known for its speed and inexpensive layer-1 blockchain. Like other blockchains (for example, Solana (SOL) and Avalanche (AVAX)) that scale better than their counterpart, it has been dubbed an “Ethereum killer.” After raising $40 million in funds, Fantom launched its mainnet in December 2019. Since then, it has grown to become one of the most popular blockchains, sitting in the top 10 blockchains by total value locked (TVL) with $1.3 billion in TVL. 

Arbitrum is one of Ethereum’s layer-2 scaling solutions designed to improve smart contracts’ efficiency and transaction execution on the network while reducing fees drastically and adding extra privacy features. L2 networks are software that sit on top of the base layer of a blockchain like Bitcoin or Ethereum to boost the platform’s efficiency and offer inexpensive transactions. 

Ethereum will create new participants called builders in the blockchain ecosystem, a move that risks altering the power structure of what is arguably the most commercially important cryptocurrency network. Under the current system, networks of computers known as miners pluck transactions out of a special data pool, and arrange them into blocks that are added to the blockchain. The miners are being eliminated as part of a plan to reduce energy consumption. After the planned September upgrade known as the Merge, the builders will gather transactions into blocks, which they will then send to the validators. The validators will sign off on the order of the blocks that will form the upgraded blockchain. This seemingly geeky change, part of a portion of the software upgrade that is called MEV-Boost, could potentially make Ethereum more centralized, at least initially. While there are already more than 416,000 validators lined up to order transactions, there are only a handful of participants committed to serving as builders. The largest is Flashbots, which makes open-source software used by trading bots. Flashbots is already the dominant way for miners to collect fees from traders by letting their transactions front-run and otherwise step around others. Other participants are considering becoming builders because of concern about Flashbots or similar entities having too much control.

A number of prominent browser extension wallets, including Ethereum (ETH) wallet MetaMask, Solana (SOL)'s Phantom, Brave, and cross-chain wallet extension XDefi, have patched a "critical vulnerability" that could have exposed sensitive login credentials if specific conditions were met.

The browser-based crypto wallet provider MetaMask has announced that it will attempt to aid users who fall prey to crypto-related scams and phishing attacks in their quests to recoup lost or stolen assets.

crypto wallet MetaMask has inked a new strategic partnership with Asset Reality, an end-to-end solution for recovering, managing, and accessing seized crypto and complex assets. MetaMask is a ConsenSys product and among the leading self-custody wallets. MetaMask and Asset Reality will be helping victims of scams recover their digital assets where possible. The support will be available for all MetaMask users globally who have been victims of scams across MetaMask’s most active markets in the United States, the UK, the Philippines, India, Vietnam, Brazil, France, Germany and Nigeria.

ConsenSys has been a leading developer of decentralized software services and applications that operate on the Ethereum blockchain. Founded in early 2015, the Brooklyn-based company has been involved with MetaMask, an Ethereum wallet application that allows users to store and transfer cryptocurrencies and tokens. The company has been raising funds. Most recently it raised $450 million through its Series D funding bringing ConsenSys valuation at over $7 billion.

Popular software crypto wallet MetaMask has issued a warning about possible phishing attacks through Apple’s cloud service iCloud. The warning comes after scammers managed to steal USD 650,000 worth of crypto using this attack vector.