Metamask, a browser-based wallet, has created a way for users to get back their lost assets after being attacked by phishing or crypto scams. Following a newly-announced partnership with London-based Asset Reality, Metamask users are now able to reach a case handler to help them recoup their stolen assets.
As the amount of users of Metamask keeps on increasing, the company sees consistent growth in the number of ticket requests that are related to losses. These requests are originally triggered by ill-natured actors who perform social engineering or phishing attacks. Alex Herman, the Metamask support product lead, stated that
“We wanted to offer something to users beyond a handshake and good luck at the end of our interaction,” said Herman. “So, partnering with Asset Reality gives users a way to start an investigation to try and track down their stolen funds and possibly lead to a recovery down the line. It means there’s at least some light at the end of the tunnel.”
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According to Asset Reality, the average amount that crypto fraudsters shed in a scam is close to $25,000. Moreover, this can sometimes reach $1 million. Asset recovery firms often make use of blockchain analytics to recoup assets. These recovery firms consist of Chainanalysis and Asset Reality.
According to Aidan Larkin, the CEO of Asset Reality, the usual procedure for filing a civil lawsuit usually consists of lawyers. He also stated that the firm usually provides information notices on exchanges. Through Metamask, Asset Reality was able to offer a helping hand to its users. Moreover, it did not affirm to have a share of the recouped assets.