In a significant move to enhance security, Consensys has acquired Wallet Guard, a renowned crypto security firm.

The SEC alleged that MetaMask acted as an unregistered securities broker and that its staking service violated securities laws.

The SEC files lawsuit against ConsenSys, alleging unregistered broker activities and securities offerings through MetaMask's Swap and Staking services.

Consensys the firm behind the prominent cryptocurrency wallet MetaMask, has acquired Wallet Guard. The acquisition comes in a bid to enhance the Web3 wallet’s security. The development has been confirmed by Wallet guard co-founder Martin on X.

Consensys acquires Wallet Guard to integrate advanced security features into MetaMask, enhancing user protection against scams and fraud in Web3.

Echoing similar complaints brought against other crypto firms, such as Coinbase and Kraken, the SEC is alleging Consensys violated federal securities laws by failing to register as a broker and dealer while offering services for securities,

The Securities and Exchange Commission's anticipated complaint against Consensys, the maker of the MetaMask crypto wallet, landed with a thud this afternoon. Why it matters: The suit labels an even wider swath of crypto tools as securities,

Consensys Software Inc. is in hot water. The SEC has charged the company for selling unregistered securities and acting as an unregistered broker through its MetaMask Staking and MetaMask Swaps services.