Fireblocks Now Offers DeFi Threat Detection For Institutions
Cryptocurrency custody specialist Fireblocks is enhancing the security of decentralized finance (DeFi) institutions by providing threat detection and smart contract evaluation tools.
The company’s dApp Protection and Transaction Simulation products, which have been in beta testing since December last year, are now available to check decentralized applications across over 40 blockchains via WalletConnect, Fireblocks’ browser extension, and MetaMask Institutional.
The surge in interest in DeFi, often referred to as a playground for hackers, has led to an increase in institutions exploring swapping, lending, staking, and bridging using popular platforms like Uniswap, Aave, Curve, 1inch, and Jupiter.
Fireblocks’ solution identifies malicious patterns such as imitative URLs, harmful javascript elements, and suspicious registrars. The solution aims to help DeFi and Web3 traders navigate the user journey, providing mitigations and detection mechanisms throughout the process.
(With inputs from Shikha Singh)
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