Blockaid new dashboard to track Web3 activity and threats

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As a seasoned analyst with years of experience navigating the dynamic world of cryptocurrencies and blockchain technologies, I find the launch of Blockaid’s State of the Chain dashboard a commendable initiative. The interactive tool, backed by data from their on-chain detection and response platform, offers valuable insights into Web3 activity and threats, which is crucial for understanding the rapidly evolving landscape of this space.

Blockaid, a blockchain security firm, has launched its State of the Chain dashboard. 

This interactive tool, as mentioned in a press release sent to crypto.news, provides a comprehensive look at Web3 activity and potential threats predicted for 2024. The tool draws on data from Blockaid’s on-chain monitoring and response system, which scrutinized billions of transactions throughout the year.

The platform processed 2.41 billion transactions, 780 million decentralized app connections, and 220 million tokens in 2024. It highlights trends such as transaction volumes and security risks while identifying common threats like scams and malicious tokens.

71 million potential attacks prevented

Highlights from the announcement reveal that Blockaid’s security measures successfully thwarted approximately 71 million possible assaults. Regrettably, crypto scams resulted in a loss of $1.4 billion for users during the previous year.

The data also reveals that 59.3% of new tokens launched in 2024 were identified as malicious, with rug pull scams — where developers disappear after raising funds—accounting for 27% of these tokens.

The dashboard’s quarterly reports strive to keep users apprised of evolutions in Web3 action and potential hazards. By offering information about frauds and perils, this tool aims to assist businesses and individuals in navigating the expanding Web3 environment more effectively.

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2024-12-19 22:39