MateMask is an Ethereum-based wallet that allows crypto holding of various chain cryptocurrencies, alternative blockchains project can bridge their native token on the wallets for easy accessibility of all-in-one place features, built for both web and mobile user-friendly features, it has attracted millions of crypto users across the globe, since its launch in 2016 the open source wallet has suffered several attacks which lead to loss of significant amount of crypto worth millions of dollars, in most cases software attack are common with Mate web wallet's that occasionally steals users private keys leaving users with little chance of retrieving their keys.
Fintech partnership
Sardine is a fintech firm that proud itself to be top security providing fintech service system, it boasts it's fraud prevention systems scale that of Coinbase and Revoluts and 90% of its customers experience less fraud identity on merchant platforms when executing transactions.
This new integration according to MetaMask will help increase users' experience with the use of instant bank transfers directly from the fintech bank to the MetaMask wallet without waiting or going directly to their local banks.
How secure are your assets?
There are few guesses of what might likely happen in the next coming months with MateMask's latest announcement of adding instant fiat top-up feature for users to make purchases of over 30+ different cryptocurrencies using local bank accounts, although it took into consideration what users can buy on a daily limit of $3,000. The only challenge here is hackers never stop looking for loopholes to take advantage of any introduced system since MetaMask is known for its vulnerabilities will it be able to avert attacks from sophisticated users citing it will be a centric point for hackers with its newest integration?
A question on users' accounts safety was asked, on the use of local fiat accounts transfer with crypto which was presented to MetaMask and Sardine core developers.
if a hacker manages to obtain a wallet's private key and deposit funds from the linked bank account how can such fraud be detected?
source
This important question was left unanswered by both parties which are quite disturbing when considering users' safety on funds protection, on the other hand, it might seem both users wouldn't like to disclose their security strategy to the public, overall we hope they succeed with their new initiative.