Blockaid Unveils State of the Chain Dashboard to Enhance Web3 Security

Blockchain security firm Blockaid has launched its State of the Chain dashboard, a cutting-edge tool offering in-depth insights into Web3 activity and potential threats in 2024.

Key Features and Findings

The State of the Chain dashboard leverages data from Blockaid’s on-chain detection and response platform, which has analyzed billions of transactions over the year. Some key highlights from the data include:

  • 2.41 billion transactions processed
  • 780 million decentralized app connections
  • 220 million tokens analyzed

The platform’s data highlights trends such as transaction volumes and security risks, while identifying common threats like scams and malicious tokens.

Preventing Potential Attacks

Key findings from the dashboard reveal that Blockaid’s systems prevented 71 million potential attacks. However, cryptocurrency scams still caused significant losses, with users losing $1.4 billion last year.

Malicious Tokens and Scams

Alarmingly, 59.3% of new tokens launched in 2024 were identified as malicious. Rug pull scams, where developers disappear after raising funds, accounted for 27% of these tokens.

Quarterly Updates for Enhanced Security

The State of the Chain dashboard will provide quarterly updates to keep users informed about changes in Web3 activity and risks. By offering data on scams and threats, the tool aims to help organizations and users better navigate the growing Web3 space.

As the Web3 ecosystem continues to grow, it’s essential to prioritize security and stay informed about potential threats. Tools like the State of the Chain dashboard play a crucial role in enhancing Web3 security and protecting users from malicious activities.

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