Blockaid

Today, we had the privilege of hosting Dror Avieli, VP Customer Success at Consensys, for a fireside chat with our R&D team at Blockaid’s TLV office. We believe the best products aren’t built in isolation—they’re shaped by the people who use them. That’s why we bring our engineers closer to the teams we work with, ensuring that security isn’t just a feature, but a seamless part of the user experience. Our partnership with MetaMask is a great example. Together, we’ve built security that works behind the scenes to protect millions—without getting in their way. Some key takeaways from the conversation: 🔹 Security isn’t a blocker—it’s an enabler. Every scammed user isn’t just a loss for them, it’s churn for the entire ecosystem. Protecting users builds trust, which drives wider adoption. 🔹 One-size-fits-all security doesn’t work. MetaMask needed a custom solution aligned with their core privacy values—because security must work with the product, not against it. 🔹 Crypto’s mainstream moment is coming. With regulators lowering entry barriers, millions of new users will flood in. The industry has one job: keep them safe. Big thanks to Dror for joining us. These conversations help us build better, together.

Sui Foundation is upgrading ecosystem security on Sui with Blockaid 🤝 🪪Real-time ecosystem wallet protection ⚠️Advanced smart contract exploit detection 👀Real-time ecosystem monitoring and response Powered by the most comprehensive data and security engine in web3. There’s nothing users need to do, security is automatic and seamless—Blockaid's protection works behind the scenes to keep the Sui ecosystem safe.

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🚨 Biggest Crypto Hack In History 🚨 Bybit’s $1.4B hack has garnered widespread attention, but understanding the technical details is crucial. Here’s a simplified breakdown: 1. The Bybit Exchange Team was tricked into signign a malicious transaction that eventually led to a loss of $1.4B 2. A transaction was executed from Bybit’s cold wallet using Gnosis Safe’s execTransaction function, which allowed the attacker to change the wallet’s implementation pointer stored in storage slot 0 (the masterCopy). 3. The attacker replaced the legitimate GnosisSafe contract with an attacker-controlled “Draining Contract” via a delegatecall. This was achieved using an intermediary “Spoofing Contract” that modified the proxy’s storage. 4. Once in control, the attacker used functions designed to transfer all ETH and ERC20 tokens from the wallet, effectively draining its funds. This case comes after some ecosystem giants such as WazirX and Radiant Capital were tricked in a similar way to blindly sign transactions which were harmful to them. At Blockaid, we help companies ensure that every transaction they process is secure. Learn more about our Co-signer solution to discover how we achieve this - https://lnkd.in/dYRbMs9c

The news is out! We've raised a $50M Series B. 🎉

These stats goes to show the importance of partnerships like the one we have with Uniswap Labs DEX Screener and more. Allowing newcomers to join along without having to fear that they will be scammed is one of the biggest unlocks possible for crypto - and that's exactly what we are working on at Blockaid

Uniswap Labs just launched Token Warnings. This new feature makes Uniswap products even more secure, by giving users the tools they need to navigate DeFi with confidence. The update provides a notification when users interact with tokens that have dangerous properties or patterns, including: ⚠️ High buy or sell fees ⚠️ Impersonation ⚠️ Tokens linked to malicious actors At a time when 59.4% of all new tokens are malicious, this feature enables users to make informed DeFi decisions without restricting what they can and can’t see or swap. There’s nothing users need to configure or change—these features are already live and execute automatically with every interaction.

In a world where web3 scams cost users billions, visibility is crucial. So today, we’re releasing a dashboard that shares the data Blockaid sees. Introducing State of the Chain (stateofthechain[dot]com). It showcases 2024 activity and security trends based on our analysis of: 💳 2.41B transactions 📲 787M dApp connections 🪙 220M tokens Blockaid sees this data because we're directly integrated with leading wallets and ecosystems—and we analyze more web3 transactions than anyone else. Some highlights since the start of 2024. Progress: ✅ $5.1B worth of assets are being traded each week ✅ dApp connections are up 106% ✅ 71M attacks prevented by Blockaid Challenges: ⛔️ $1.47B stolen in scams or fraud ⛔️ 59.3% of tokens were malicious ⛔️ 15.7M new malicious dApps went live Link in comments 👇

"The 'overwhelming majority' of new crypto tokens entering the market are scams of one form or another... it’s a game of cat and mouse." Ido Ben-Natan recently spoke to WIRED about memecoins and soft rug pulls. The article highlights the difficulties of protecting traders from this kind of scam and a few recommendations for what can be done (until there are crypto-specific laws on the books).

Major Supply Chain Attack on Solana's @solana/web3.js Library. The crypto industry never fails to keep us on our toes. While Bitcoin celebrates its $100K milestone and the US outlook on crypto regulation appears to be brightening, a stark reminder of persistent security threats has emerged. This week, a critical backdoor was discovered in one of Solana’s most widely used libraries, @solana/web3.js. The backdoor is straightforward: malicious code was introduced to intercept every generated private key and send it to a hardcoded Command & Control server using a function aptly named addToQueue. The private key is split into three HTTP headers to obfuscate the theft. Functions like fromSeed and fromSecretKey, used to generate private keys, were hooked to this backdoor, making any wallet created with the compromised library vulnerable to complete asset theft. The implications are clear: wallets generated using the backdoored @solana/web3.js are at risk of being drained.