Blockaid, a web3 security startup, has successfully integrated its technology into Core wallet, a native wallet on the L1 blockchain Avalanche. This integration aims to protect nearly $1 billion worth of assets deposited on Avalanche from sophisticated threats such as hacks and phishing scams.
By incorporating Blockaid’s privacy-preserving security systems, Core wallet can now identify and prevent malicious activity before executing transactions on decentralized networks like AVAX. Additionally, Core wallet users will have access to real-time alerts and an extensive security database provided by Blockaid. This database is regularly updated to include emerging attack vectors, bad actor operations, and vulnerabilities in decentralized finance (DeFi) protocols.
The collaboration between Core and Blockaid is a response to the increasing concerns surrounding crypto security. This year alone, there have been more than 120 hacks targeting protocols and crypto providers, resulting in the theft of over $53 million in digital assets just in the month of April.
Ido Ben-Natan, the CEO of Blockaid, expressed confidence in the company’s ability to protect assets on Avalanche and the DeFi ecosystem. Blockaid has already safeguarded over $7 billion in virtual currencies and has successfully prevented 1.3 million individual on-chain attacks.
Akash Gupta, the head of customer products at Ava Labs (the organization behind Avalanche), sees this collaboration as a significant step towards providing users with peace of mind while exploring the Avalanche ecosystem and beyond.
In other news, the article also mentions the intriguing case of the Cryptoqueen, which involves murder, money, and misadventure.