Coinbase’s ‘Blockaid’ has saved more than 800,000 wallets from hacks

TL; DR

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Big dawgs on campus are making some strong claims:

Coinbase said they have saved users more than $75 million over the past five months with their ‘Blockaid’ wallet integration.

Guess what?? The rumors are true.

Blockaid is an on-chain security integration that double-checks transactions and connections to dApps to ensure they are not untrustworthy.

Over the past five months, Blockaid has been able to save over 800,000 wallet connections from bad activity using Coinbase wallets alone.

(They also work with a number of other clients, including MetaMask and OpenSea).

The bigger picture, however, is even more exciting:

Executives at Coinbase and Blockaid have said that working on these types of security measures are the pieces that will help a billion people engage in on-chain activities.

Think of it this way: if you were afraid to jump from a 100-foot dive, but we reduced the jump to 10 feet, you’d be more likely to take the plunge, right?

By taking more integrated and advanced security measures, we get closer to that 3 meter range.

So more people are willing to jump in.

Nice!