MetaMask partners with Asset Reality to help victims of crypto scams

Asset Reality recently announced its partnership with Metamask in improving digital asset recovery for those who have fallen victim to scams.

Metamask is one of the most widely used digital wallets with over 30 million users. But with the exponential growth in the cryptocurrency and Web3 space, many users have also fallen victim to online scammers and hackers. Through the partnership with Asset Reality, Metamask will now be able to help victims all over the globe recover their digital assets whenever possible.

Victims of scams would need to report their losses on Metamask, with Asset Reality doing the heavy lifting by handling the investigations into scam operations such as phishing. This would greatly increase the chances of recovering funds and bringing scammers into light.

Asset Reality stated that users who have fallen victim to crypto scams average lose about USD 25k on average but with reports of scams stealing as low as USD 50 or as much as USD 1 million. And while Asset Reality’s services may be free for Metamask users, victims may still need to cover any legal cost if they decide to pursue further and gain the attention of law enforcement. However, it was further stated that Asset Reality would be willing to help in building a much larger forensic investigation when legal costs are high and if larger victims pursue the case.

“Helping users investigate and recover lost funds is a strategic tool in a multi-faceted strategy that we are continuously executing that includes improving security, user education, and new ways to back up assets. Through this industry-leading partnership with Asset Reality, ConsenSys and MetaMask want to allow victims to join together, build cases against these scam operations and bring them to justice. It’s really important that victims of hacks come forward, no matter how small. They could reveal or be the starting point of a wider investigation and create the opportunity to aggregate claims to commence potential legal action.” – Dan Finlay, Co-Founder of Metamask.

Falling victim to a scam and losing money is never a pleasing thing and can be a really stressful time for most people. The following steps below will help guide you in reaching out to Metamask and Asset Reality’s digital asset recovery service.

1. A user’s account is compromised and their fund are stolen through a scam. Victims will need to contact MetaMask via the official platform to report their losses and begin an investigation.
2. Metamask support will interview affected users to find out how they were compromised and request any relevant information about phishing websites, vectors and the lost funds.
3. After providing users with safety tips, Metamask support will direct the user to open a case with Asset Reality through a page on metamask.io
4. Asset Reality will take over communication with the user and proactively keep them updated on the status of their case as the investigation progresses.

 

 

Source: Yugatech