ConSensys has announced the acquisition of Web3Auth, aimed at enhancing the user experience of its widely used MetaMask crypto wallet. The firm highlighted that this acquisition addresses a significant challenge in self-custody: seed phrase management, which poses a risk of fund loss for around 35% of crypto wallet users who fail to back up their seed phrases. By integrating Web3Auth, users will be able to restore their wallets using conventional authentication methods like device-based authentication and social logins, potentially lowering the barriers for new users. This integration will occur in phases and will include multifactor onboarding to boost security. Earlier in 2025, MetaMask also announced its support for Bitcoin and Solana networks. This acquisition is part of ConSensys' broader strategy to enhance its offerings, following investments in security tools and blockchain development resources over the past years.

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