Web3 security startup Blockaid has partnered with Core wallet to secure nearly $1 billion in assets on the Avalanche blockchain. The integration aims to counter hacks and phishing scams by simulating transactions and identifying malicious activities before execution.
Core wallet users will benefit from real-time alerts and an updated security database that covers evolving threats. This collaboration addresses rising crypto security concerns, with more than 120 hacks reported this year, including $53 million stolen in April alone.
Blockaid, with experience safeguarding $7 billion in virtual currencies and preventing 1.3 million on-chain attacks, brings robust protection to Avalanche. According to Ava Labs’ Akash Gupta, this move ensures users can explore the Avalanche ecosystem with confidence.
This partnership represents a significant step toward long-term security in the decentralized finance landscape. It emphasizes the crucial role of advanced security measures in fostering trust and safety in blockchain technology.
