OMNIA Protocol Role in Privacy Protection for Web3 Users

OMNIA Protocol Role in Privacy Protection for Web3 Users
Photo by Muhammad Zaqy Al Fattah / Unsplash

Blockchain cybersecurity firm OMNIA Protocol has uncovered privacy vulnerabilities in the popular Ethereum non-custodial wallet, MetaMask. The bug enabled hackers to obtain users’ internet protocol (IP) addresses when non-fungible tokens (NFTs) were airdropped to their wallets.

MetaMask is the most popular Ethereum wallet. Its broad compatibility with various blockchains and ERC-20 standard tokens has endeared the digital wallet to over 30 million users.

Therefore, any security vulnerability is significant in the broader blockchain industry. MetaMask moved quickly to address the vulnerability and reassure users that their data was secure.

OMNIA Protocol stated that the discovery allowed hackers to  leak personal information belonging to wallet holders, such as IP addresses and geo-location whenever GSM mobile data was used.

Ethical Hacking To Play a Vital Role in Blockchain Cybersecurity

Privacy vulnerabilities for such a project are concerning. Such loopholes concern the data of tens of millions and potential losses worth billions. The cryptocurrency space has become a hacking target because it is digital and mostly in regulatory gray area.

Ethical hackers have shown their value in the recent Solana wallet hack which saw victims lose over $8 million. Collective action by some users in rapidly spamming the hackers slowed the attack and allowed the platform to mitigate damage.

The vulnerability picked out by the OMNIA team can, however, be still exploited in other wallets besides MetaMask whose development team patched the flaw. Because the bug has been identified and unresolved in other wallets, it became easier for other white hacks to track down and avert attacks in other DeFi and NFT projects.

More information on the official website:

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  • Country: Estonia

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  • Company Name; OMNIA Protocol
  • Company Contact Person; Cristian Lupascu
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