Coinbase’s ‘Blockaid’ Saved 800,000+ Wallets From Hacks

TL;DR

• Coinbase’s ‘Blockaid’ (a security integration that checks transactions and connections to dApps to make sure they aren't dodgy) has saved users $75M in 5 months.

Full Story

Big dawgs on campus are making some hefty claims:

Coinbase said they saved users over $75M in the last 5 months with their ‘Blockaid’ wallet integration.

And guess what?? The rumors are true. 

Blockaid is an on-chain security integration that double checks transactions and connections to dApps to make sure they aren't dodgy.

Over the last 5 months, Blockaid has been able to save 800,000+ wallet connections for bad activity just with Coinbase wallets alone.

(They also work with a bunch of other clients inc. MetaMask and OpenSea).

The bigger picture is even more exciting though:

Executives at Coinbase and Blockaid have said working on security measures like this are the pieces that will help onboard a billion people to on-chain activities. 

Think of it like this: If you were afraid to jump from a 100 ft high dive, but we brought the jump down to 10 ft, you’d be more inclined to take the leap, right?

By creating more integrated and sophisticated security measures, we’re getting closer to that 10 ft range.

So more people are willing to jump in. 

Nice!