Aliens TLDR

Asset Reality specializes in investigating, tracing and attempting to recover funds New service will pool data from a number of scam victims to help trace stolen assets ConsenSys’ self-custody wallet MetaMask is partnering with Asset Reality, a platform for accessing and recovering seized crypto and digital assets, to tackle cryptocurrency fraud.

The two companies will support MetaMask scam and phishing victims in attempting to recover their assets.

The main security concerns for crypto wallet users are phishing scams that cast a wide net, as well as targeted spear-phishing attacks, according to MetaMask.

MetaMask’s strategy is to pool information from a number of victims in the hope that it will help both identify the scammer and make recovering the stolen assets less costly.

Harry Denley, an information technology security analyst at MetaMask, told Blockworks that bad actors are “simply taking advantage of a nascent industry where new users are generally optimistic, excited by the potentials, and not very experienced with having full control of such valuable assets.” Cybercrime is a multi-billion dollar worldwide industry, he added, emphasizing the importance of hack victims coming forward, no matter how small the loss.

In the case of a scam, MetaMask will request any relevant information regarding phishing websites, vectors and funds lost, while Asset Reality will handle the case for MetaMask’s affected users.