Core teams up with Blockaid to protect Avalanche ecosystem
Web3 security startup Blockaid has integrated its technology into Avalanche’s Core wallet to safeguard nearly $1 billion in assets on the L1 blockchain.
Avalanche’s Core wallet has seamlessly incorporated Blockaid’s privacy-preserving security systems to counter sophisticated threats such as hacks and phishing scams. By leveraging Blockaid’s technology, the platform can simulate transactions and detect malicious activities before final execution on decentralized networks like AVAX.
Users of Avalanche’s Core wallet can now benefit from real-time alerts and access to an extensive security database continuously updated with evolving attack vectors, bad actor operations, and DeFi vulnerabilities.
The collaboration between Core and Blockaid aims to protect assets not only on Avalanche but also within the broader DeFi ecosystem, addressing mounting concerns over crypto security. This initiative comes amidst a year marked by over 120 hacks across protocols and crypto providers, with hackers pilfering more than $53 million in digital assets in April alone.
Ido Ben-Natan, CEO of Blockaid, emphasized the firm’s track record of safeguarding over $7 billion in virtual currencies, underscoring their commitment to securing Avalanche and Core. Additionally, Blockaid has reportedly thwarted 1.3 million individual on-chain attacks.
According to Akash Gupta, head of customer products at Ava Labs, the integration signifies a significant stride in ensuring that “users can explore the Avalanche ecosystem and beyond with peace of mind.”
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