Web3 security startup Blockaid has joined forces with Core wallet to bolster security measures for the Avalanche blockchain ecosystem, which safeguards nearly $1 billion in assets.
The integration of Blockaid’s cutting-edge security technology into Avalanche’s native wallet, Core, aims to combat sophisticated threats such as hacks and phishing scams. By employing Blockaid’s solutions, Core can simulate transactions and identify malicious activities before they impact decentralized networks like AVAX.
Users of Avalanche’s Core wallet will benefit from real-time alerts and a comprehensive security database provided by Blockaid. This database is continuously updated to address evolving attack methods, malicious operations, and vulnerabilities in decentralized finance (DeFi) protocols.
Amidst rising concerns about crypto security, with over 120 hacks reported this year alone, the collaboration between Core and Blockaid is timely. In April, hackers managed to pilfer more than $53 million in digital assets, underscoring the urgency for robust security measures.
Ido Ben-Natan, CEO of Blockaid, highlighted the company’s extensive experience in safeguarding over $7 billion in virtual currencies. This partnership signifies Blockaid’s commitment to leveraging its expertise to enhance security within the Avalanche ecosystem.
Akash Gupta, Head of Customer Products at Ava Labs, expressed confidence that the collaboration would provide users with peace of mind as they navigate the Avalanche network and beyond. This initiative represents a significant stride toward bolstering security standards across the crypto landscape.
Summary Review: the collaboration between Blockaid and Core marks a pivotal moment in the ongoing effort to fortify security within the Avalanche blockchain ecosystem. By integrating Blockaid’s advanced security solutions into Core wallet, users can navigate the decentralized landscape with greater confidence, knowing that their assets are shielded from sophisticated threats. As crypto security concerns continue to escalate, this partnership underscores the collective commitment to safeguarding digital assets and fostering a more secure environment for blockchain participants worldwide.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
