🌎 Blockaid and Core Partner to Secure $1B on Avalanche Blockchain

Web3 security startup Blockaid has integrated its technology into the Core wallet to safeguard nearly $1 billion in assets deposited on the L1 blockchain Avalanche.

Avalanche’s native wallet, Core, has directly incorporated Blockaid’s privacy-preserving security systems to mitigate sophisticated threats such as hacks and phishing scams. Blockaid’s technology is designed to simulate transactions and identify malicious activity before final execution on decentralized networks like AVAX.

Core wallet users on Avalanche will also benefit from real-time alerts and an extensive security database, which includes evolving attack vectors, bad actor operations, and DeFi vulnerabilities. This integration aims to enhance the security measures for users and protect their digital assets.

Blockaid’s collaboration with Core to secure assets on Avalanche and within the DeFi ecosystem is timely, given the increasing concerns about crypto security. This year alone, protocols and crypto providers have experienced over 120 hacks. In April, hackers managed to steal more than $53 million in digital assets.

Blockaid CEO Ido Ben-Natan highlighted that the company will leverage its experience from safeguarding over $7 billion in virtual currencies to enhance Avalanche and Core’s security. The firm has successfully prevented 1.3 million individual on-chain attacks. According to Ava Labs’ head of customer products, Akash Gupta, this partnership represents a significant step towards ensuring that users can explore the Avalanche ecosystem with greater peace of mind.