Blockaid partners Core to safeguard Avalanche ecosystem

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

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

Avalanche’s Core wallet users can also benefit from the provider’s real-time alerts and comprehensive security database that is updated to include evolving attack vectors, bad actor operations, and identification vulnerabilities.

Leveraging Blockchain for on-chain security

Core’s collaboration with Avalanche and Blockaid to protect assets in the DeFi ecosystem comes at a time when crypto security concerns are growing. Protocols and crypto providers have been attacked more than 120 times so far this year. In April alone, hackers stole more than $53 million in digital assets.

Blockaid CEO Ido Ben-Natan stated that the security shop will bring its expertise in protecting more than $7 billion of virtual currencies to Avalanche and Core.

The firm also reportedly stopped 1.3 million individual on-chain attacks. According to Akash Gupta, Ava Labs’ head of customer products, this announcement represents a giant step towards ensuring “users can explore the Avalanche ecosystem and beyond with peace of mind.”