MetaMask Breach: 7,000 Crypto Users Compromised

• MetaMask, a popular cryptocurrency wallet, recently reported a security breach that affected 7,000 users.
• The breach was caused by one of the third-party service providers and exposed user data such as email addresses and other personal information.
• The firm has assured users that their wallets are safe since they do not store any sensitive information and have clarified their privacy policy in response to the incident.

MetaMask Reports Security Breach

MetaMask, one of the most popular cryptocurrency wallets, recently reported a security breach affecting 7,000 users. One of its third-party service providers was responsible for the data theft which exposed user data such as email addresses and other personal information. Despite this unfortunate event, the developers of MetaMask have reassured users that their wallets remain safe as no sensitive information is stored on it.

Amended Privacy Policy

In November 2022, MetaMask amended its privacy policy which drew criticism for allowing a communication protocol provider to collect user data including IP address and Ethereum wallet address during transactions. In response to numerous complaints regarding its data collection practices, ConsenSys (the company behind MetaMask) provided clarification on its privacy policy.

Data Compromised

On Friday April 14th 2023 , ConsenSys revealed that around 7,000 people who contacted customer assistance between August 1 2021 and February 10 2023 were impacted by the data breach. It is likely that their email addresses were exposed but also possibly names, addresses, phone numbers or credit card details over an 18 month period.

Security Of App & Browser Add-on

The firm has emphasised the security of its app and browser add-on despite this incident occurring and reassured users that their non-custodial software does not record any information about them so no funds are at risk from this particular event.

Regulatory Dangers Facing Crypto Sector

Incidents like these could increase the already significant regulatory dangers facing the cryptocurrency sector due to customers being more aware of potential risks when using certain services or products related to digital currencies.