Even if you had been in the NFT space for even the slightest amount of time, you would have come across various scams ranging from stolen NFTs and seed phrases to large scale Discord hacks. Things could get better as ConsenSys’ MetaMask forms a strategic partnership with UK financial services company Asset Reality. Together they will give the victims a chance to recover their stolen funds.
MetaMask x Asset Reality: Taking care of the community
MetaMask is constantly improving security, user education and finding new ways to secure assets.
When it comes to crypto scams, there is usually no specific agency to contact in most countries. As one of the leading self-custody wallets in the crypto and NFT space, MetaMask works to create a safer digital economy. As hard as they try Warn and protect users, the scammers always seem to be one step ahead. The MetaMask and Asset Reality partnership will now use an alternative solution to help the community.
Asset Reality will act as caseworker on behalf of MetaMask. Their services are available worldwide, including some of the most active crypto markets. Currently, this service is free for MetaMask users unless there is a need to take legal action. In those cases where it is most economical to pursue legal action, the victims have to bear the legal costs.
However, when the legal costs for victims are too high, Asset Reality helps them join forces and take collective action as a group. Sometimes, especially in larger scams, there can be many victims. Therefore, joining forces will give them a much higher chance of succeeding in crypto asset recovery cases.
How can you ask for their help?
If a user is unfortunately experiencing a loss of funds or an account compromise, this can be a solid first option. MetaMask’s support team will take the users and determine how they were compromised. Here users are required to provide all relevant information related to phishing websites, vectors and lost funds. The more information the team has to process, the better the odds.
The team then provides users with safety tips on next steps and forwards them to Asset Reality. Users can open a case with Asset Reality through the MetaMask platform itself. From there, Asset Reality takes over the communication with the users. They will also proactively keep users informed of the status of their cases. In addition, companies can also contact them directly to learn more about their services.
Dan Finlay, co-founder of Metamask, stresses the importance and urges all victims to come forward, no matter how small the amount. Each case can reveal or be the starting point of a broader investigation. This may create the opportunity to aggregate claims to initiate potential legal action.
Aidan Larkin, Asset Reality Co-Founder and CEO, shares this sentiment and is proud to partner with ConsenSys and MetaMask to serve users during what may be their most emotionally and financially challenging times.