MultiversX Snap Introduces 2FA Security to MetaMask, Enhances Web3 Safety

• MultiversX Snap introduces robust 2FA security for MetaMask, enhancing digital asset protection within the MultiversX ecosystem.
• MultiversX’s onchain 2FA, integrated into MetaMask, addresses critical security needs as phishing scams rise in the crypto space.
• MetaMask users can now seamlessly access MultiversX’s secure ecosystem, benefiting from cost-efficiency and multichain exploration.

MultiversX Snap has announced on-chain two-factor authentication (2FA) for MetaMask, a non-Ethereum Virtual Machine (EVM) blockchain, in order to strengthen the security of digital assets.

Users of MetaMask can now easily connect to the MultiversX ecosystem and take advantage of enhanced security measures thanks to this new feature. Notably, the integration is a component of Snaps, third-party verified add-ons from MetaMask that enhance the wallet’s functionality beyond what is offered by default.

Enhancing Security and Promoting Multichain Exploration

MultiversX CEO and co-founder Beniamin Mincu stressed that this achievement is a significant victory for the blockchain sector. MetaMask encourages multichain exploration while bolstering security through the use of 2FA. Additionally, the functionality makes MultiversX more user-friendly by showcasing its effectiveness, affordability, and scalability.

Lucian Mincu, Chief Information Officer at MultiversX Labs, added that the integration serves as a preview of what their upcoming Sovereign Chains SDK for layer 2 solutions can offer. Besides enhancing security, it simplifies access to the MultiversX ecosystem, delivering an integrated experience that aligns with the platform’s latest innovations.

The on-chain 2FA feature, dubbed “Guardians,” is embedded within MultiversX’s sharded protocol. This ensures compatibility across various applications and wallets within the ecosystem. Notably, the Guardians have been publicly tested, including in an initiative called EGLDHeist, where a compromised seed phrase was used without losing funds, thanks to the 2FA protection.

Critical Need for Advanced Security Measures

In 2023 alone, over 324,000 users fell victim to crypto phishing scams, resulting in more than $300 million in losses. Consequently, the need for advanced security measures like those provided by MultiversX’s Guardians has never been more critical.

This Onchain 2FA solution is currently unique to MultiversX and is not available on Ethereum or other EVM-based chains. However, the new MetaMask Snap provides a seamless way for users to access these advanced security features without undergoing complex migration processes.