Web3 security startup Blockaid has integrated its cutting-edge technology into the Core wallet, safeguarding nearly $1 billion in assets on the Layer 1 blockchain, Avalanche. This strategic move aims to protect users from advanced threats such as hacks and phishing scams.
Advanced Transaction Simulation
Blockaid’s innovative security systems now enable Core wallet to simulate transactions, identifying and preventing malicious activities before execution on decentralized networks like Avalanche (AVAX). This proactive approach enhances user safety and transaction integrity.
Core wallet users will benefit from Blockaid’s real-time alerts and an extensive security database. This database is continually updated to include new attack vectors, bad actor operations, and vulnerabilities within decentralized finance (DeFi) platforms. This ensures users are protected against the latest security threats.
Addressing Rising Crypto Security Concerns
The integration of Blockaid’s technology into Core comes at a critical time for crypto security. The industry has faced over 120 hacks this year alone, with more than $53 million in digital assets stolen in April. By collaborating with Blockaid, Core aims to fortify its defenses and protect the assets of its users.
Blockaid brings significant experience to this partnership. The company has protected over $7 billion in virtual currencies and has successfully thwarted 1.3 million on-chain attacks. This expertise will be invaluable in securing the Avalanche ecosystem.
This collaboration marks a significant step forward in ensuring that Avalanche users can confidently navigate the ecosystem. With Blockaid’s advanced security measures, users can explore and interact with the Avalanche blockchain with greater peace of mind.