Did you know that since the start of 2021 crypto scammers have drained over 1 billion dollars from the community? According to the Federal Trade Commission, Instagram and Twitter are the most used social media platforms for scammers to perpetrate these kinds of actions.
Phishing in the cryptocurrency space involves tricking victims into giving up their private keys, personal information, or signing contracts that drain all the content of their accounts. The attacker typically personates as a legitimate entity or person to gain the victim’s trust. Once the victim has been scammed, blockchain technology ensures that the funds cannot be recovered again.
Dan Finley, the founder of MetaMask, had enough of it and started an initiative to combat these constant frauds through a new tool called MobyMask in a partnership with Laconic.
What is MetaMask?
MetaMask is the most used crypto wallet and gateway to blockchain apps in the world. Over 30 million users worldwide enjoy the benefits of buying, sending, and storing their tokens with a simple browser extension.
One of the advantages of MetaMask is that it generates passwords and keys on your device, so only you have access to your account.
What is MobyMask?
“What if we could harness the power of the community that is already reporting scammers around the web every day?”
MobyMask is a tool created by the MetaMask team to empower the community role in reporting phishing scams and warning the rest of the community of them. With MobyMask, users can report phishers by entering the accused Twitter handle.
The community can also vow for others to be definitely not phishers, and you can also grow the network of phishing reporters by inviting people you trust through a verification link.
Laconic is here to save the day
When MobyMask was announced on June 1st, 2022 the tool had a lot of shortcomings that couldn´t be addressed at the moment. Now, thanks to Laconic, these issues can be solved as it will provide a multi-chain verifiable data marketplace that can be easily accessible by wallets like MetaMask at a greater scale.