ConSensys has acquired Web3Auth, which it says will help it improve the user experience for its popular MetaMask crypto wallet.
ConSensys has acquired the crypto wallet infrastructure provider Web3Auth, which it says will bolster the user experience for its popular crypto wallet offering MetaMask.
ConSensys said in a June 2 blog post that the acquisition, which it did not share further details on, “will greatly improve MetaMask user experience by addressing one of the biggest risks in self-custody today: seed phrase management.”
It claimed that 35% of crypto wallet users are at risk of losing their funds as they do not keep a backup of their seed phrase — a string of up to 24 words that allows full access and control of a wallet.
