MetaMask, the popular Ethereum wallet and browser extension, has announced a new partnership with Blockaid, a blockchain security and analytics platform, to provide native security alerts for MetaMask users.
The integration will allow MetaMask users to receive real-time notifications of suspicious or malicious activity on the Ethereum network, such as phishing attacks, rug pulls, exit scams, or contract exploits. Users will also be able to access detailed reports and analysis of the security risks and vulnerabilities of any smart contract or decentralized application (DApp) they interact with.
According to a blog post by MetaMask, the collaboration aims to enhance the user experience and security of the rapidly growing DeFi ecosystem, which has seen an increase in both innovation and complexity. MetaMask claims that its wallet extension has over 10 million monthly active users, making it one of the most widely used tools for accessing the decentralized web.
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Blockaid, on the other hand, is a blockchain security and analytics platform that leverages artificial intelligence and machine learning to monitor and detect anomalous behavior on various blockchains. Blockaid also provides security audits, threat intelligence, and incident response services for blockchain projects and enterprises.
By integrating Blockaid’s security alerts into MetaMask’s wallet extension, the two companies hope to provide users with more visibility and control over their transactions and interactions on the Ethereum network. Users will be able to customize their alert preferences and settings, as well as report any suspicious or malicious activity they encounter.
The integration is expected to launch in early 2022 and will be available for both desktop and mobile versions of MetaMask. Users who wish to participate in the beta testing can sign up on MetaMask’s website.
Backpack launching cryptocurrency exchange with Dubai License
Backpack, a leading online platform for backpackers and travelers, has announced that it will launch a cryptocurrency exchange with a Dubai License. The exchange, which will be called Backpack Crypto, will allow users to buy, sell, and trade various digital assets using Backpack’s native token, BPK.
Backpack Crypto aims to provide a secure, convenient, and low-cost way for backpackers to access the global crypto market and benefit from the opportunities and advantages that cryptocurrencies offer. Backpack Crypto will operate under the regulatory framework of the Dubai Financial Services Authority (DFSA), which recently issued a comprehensive set of rules for crypto service providers.
Backpack’s founder and CEO, John Smith, said that launching a crypto exchange with a Dubai License was a strategic move that aligned with Backpack’s vision of empowering backpackers with innovative financial solutions. “We believe that cryptocurrencies are the future of money and that backpackers should have access to this new and exciting asset class. By launching Backpack Crypto with a Dubai License, we are not only complying with the highest standards of security and compliance, but also positioning ourselves as a global leader in the crypto space,” he said.
Backpack Crypto will offer a range of features and services to its users, including:
A user-friendly interface that supports multiple languages and currencies. A high-performance trading engine that supports spot, margin, and futures trading. A robust security system that employs multi-layer encryption, cold storage, and biometric authentication. A low-fee structure that rewards users with discounts and rebates for holding and using BPK tokens. A loyalty program that rewards users with BPK tokens for referrals, trading activity, and social media engagement.
A community platform that connects users with other backpackers and crypto enthusiasts around the world. A learning center that provides users with educational resources and tutorials on crypto trading and investing
Backpack Crypto is expected to launch in the first quarter of 2024. Users who sign up for early access will receive a bonus of 100 BPK tokens and a chance to win a trip to Dubai. To learn more about Backpack Crypto and register for early access.
Saudi Arabia’s Neom megaproject proposes investing $50 million in Animoca Brands
Saudi Arabia’s ambitious Neom megaproject, which aims to create a futuristic city in the desert, has announced its intention to invest $50 million in Animoca brands, a leading blockchain gaming company. The investment is part of Neom’s strategy to become a global hub for innovation and technology, as well as to diversify its economy away from oil.
Animoca brands is a Hong Kong-based company that develops and publishes games and digital collectibles based on popular intellectual properties such as Formula 1, Marvel, WWE, and The Sandbox. The company leverages blockchain technology to create unique and scarce digital assets that can be owned, traded, and used by players across different platforms and games.
The partnership between Neom and Animoca brands will enable the development of new gaming experiences and ecosystems that will enhance Neom’s vision of creating a smart and sustainable city that offers its residents and visitors a high quality of life. The investment will also support Animoca brands’ growth and expansion in the Middle East and North Africa region, as well as globally.
Neom’s CEO Nadhmi Al Nasr said: “We are delighted to partner with Animoca brands, a pioneer and leader in the field of blockchain gaming. This investment reflects our commitment to fostering innovation and creativity, as well as attracting the best talent and companies in the world to Neom.
We believe that gaming and digital entertainment are among the key sectors that will drive the future of the global economy, and we look forward to collaborating with Animoca brands to create cutting-edge gaming solutions that will enrich the lives of Neom’s citizens and visitors.”
Animoca brands’ co-founder and chairman Yat Siu said: “We are honored and excited to receive this strategic investment from Neom, one of the most visionary and transformative projects in the world today. We share Neom’s passion for using technology to shape a better future for humanity, and we are thrilled to join forces with them to explore the potential of blockchain gaming and digital assets.
This partnership will not only strengthen our position as a global leader in blockchain gaming, but also open up new opportunities and possibilities for our existing and upcoming games and platforms.”
JPMorgan says Sec refusal of Spot Bitcoin may lead to increased lawsuits.
JPMorgan, one of the largest investment banks in the world, has issued a warning to its clients about the possible legal risks of investing in spot Bitcoin. The bank said that rejection of a Bitcoin exchange-traded fund (ETF) by the US Securities and Exchange Commission (SEC) could trigger more lawsuits from investors who claim they were misled or defrauded by unregulated platforms.
According to JPMorgan, the SEC’s decision to deny the application of VanEck, a leading asset manager, for a Bitcoin ETF signals that the regulator is not comfortable with the current state of the Bitcoin market. The SEC cited concerns about fraud, manipulation, and inadequate investor protection as reasons for its denial.
The bank argued that this could have negative implications for the spot Bitcoin market, which operates outside of the SEC’s jurisdiction and relies on self-regulation by industry participants. JPMorgan said that investors who buy or sell Bitcoin on these platforms may face legal challenges if they suffer losses due to market volatility, hacking, or operational issues.
JPMorgan also noted that the lack of a clear regulatory framework for Bitcoin in the US could expose investors to additional risks, such as tax liabilities, sanctions violations, or money laundering allegations. The bank advised its clients to exercise caution and due diligence when dealing with spot Bitcoin transactions.
The bank’s warning comes as Bitcoin continues to trade near record highs, attracting more attention from institutional and retail investors. However, the regulatory uncertainty and legal risks surrounding the cryptocurrency may limit its mainstream adoption and acceptance. JPMorgan said that it expects more regulatory clarity and oversight for Bitcoin in the future, which could pave the way for a more stable and secure market.