Ethereum

Security

Safety

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/coinbase-elevates-wallet-security-with-blockaid-integration" rel="noopener noreferrer nofollow">Coinbase Elevates Wallet Security with Blockaid Integration</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/centralized-crypto-exchanges-face-disruptions-due-to-trading-firms-actions" rel="noopener noreferrer nofollow">Coinbase</a>, a prominent cryptocurrency exchange, has fortified its Coinbase Wallet by incorporating Blockaid’s <a href="https://en.bitcoinhaber.net/lido-finance-addresses-serious-security-issue-discovered-by-dwallet-labs" rel="noopener noreferrer nofollow">security</a> tool, a collaboration aimed at enhancing user fund protection. This integration, effective by late 2023, was first revealed in a March 13th report, indicating that the technology had been in use for five months. The adoption of Blockaid has successfully thwarted potential theft, safeguarding over $75 million in user assets.</p>
<h2 id="enhanced-safety-measures-for-users">Enhanced Safety Measures for Users</h2>
<p style="text-align: justify">The security measures involved the scrutiny of over 114 million transactions and DApp interactions, leading to the blockage of almost 800,000 hazardous wallet connections. Blockaid’s CEO, Ido Ben Natan, highlighted their success in preserving substantial user funds by intercepting malicious transactions and assessing their current worth.</p>
<p style="text-align: justify">Coinbase Wallet’s integration with Blockaid has introduced an advanced transaction simulation function. This feature predicts transaction results before execution on the blockchain, enabling the platform to foresee and avert fraudulent activities and theft within the crypto space.</p>
<p style="text-align: justify">Furthermore, Coinbase has integrated three distinct Blockaid APIs to establish a robust security infrastructure for users. These APIs serve to secure user interactions with DApps, Web3 protocols, on-chain addresses, and messaging systems.</p>
<h2 id="robust-transaction-simulations-across-networks">Robust Transaction Simulations Across Networks</h2>
<p style="text-align: justify">The technology from Blockaid empowers Coinbase Wallet users to predict the outcomes of transactions. This includes movements of on-chain assets such as <a href="https://en.bitcoinhaber.net/ethereum-gains-momentum-as-whales-accumulate" rel="noopener noreferrer nofollow">Ethereum</a> and off-chain activities like OpenSea’s Seaport orders. Chintan Turakhia, Coinbase’s senior engineering director, stated that the integration has enhanced transaction simulations across several chains, including Ethereum and others like Base, Optimism, and Polygon.</p>
<p style="text-align: justify">However, Coinbase Wallet is not alone in adopting Blockaid’s transaction security technology. MetaMask, another major EVM wallet, has also incorporated Blockaid security alerts and, as of February 2024, expanded these alerts to a range of blockchain networks, highlighting the increasing importance of transaction security in the crypto ecosystem.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/coinbase-elevates-wallet-security-with-blockaid-integration" rel="noopener noreferrer nofollow">Coinbase Elevates Wallet Security with Blockaid Integration</a></h5>

Coinbase Elevates Wallet Security with Blockaid Integration

Table of Contents

BH NEWS

Other articles published on Mar 13, 2024

The Bitcoin ETFs will invade the BTC market! Creating huge shortages!

Analyst Thinks Dogecoin Will Hit $1 in 2024 After Recent Surge

This Bitcoin ETF is now ‘abandoned’: Are your holdings safe?

Number Of Ethereum Short-Term Holders Increasing – Is A Bull Rally Next?

Analysts Predict Bitcoin Surge to $83,035: Is the Bull Run Just Beginning?

Revealed: How many times Bitcoin declared dead in 2024

Join our free newsletter for daily crypto updates!