Enhancing DeFi Security with Fito SignScreener — Fito Wallet
Established in late 2023, Fito Wallet is committed to proffering solutions and working with security networks aiming to fortify the DeFi landscape, paving the way for a more secure and user-friendly Web3 experience.
Security stands as an ever-pressing concern in the dynamic realm of cryptocurrency and decentralized finance (DeFi). As the adoption of blockchain technology accelerates, the importance of having a safer and more intuitive ecosystem cannot be overstated.
The Escalating Need for Enhanced Security
Statistics underscore the urgency of addressing security challenges in the Web3 space. Smart contract risks and phishing scams plague millions of DeFi and crypto investors annually, resulting in substantial loss of valuable crypto assets and jeopardizing good projects in some cases.
With new crypto phishing tactics and campaigns launching daily, keeping pace with the innovation of scammers can be tedious work for regular crypto investors.
This persistent threat landscape highlights the critical necessity for robust security measures to safeguard user crypto assets, which is vital for accelerating the industry’s growth.
Fito SignScreener
In alignment with our commitment to to providing a more secure crypto and web3 space, Fito Wallet has introduced the SignScreener tool into our enhanced in-app Dapp browser.
The SignScreener is designed to harness a comprehensive database of known threats and vulnerabilities from a third-party Web3 security network — Goplus, to swiftly identify and flag potential risks in dApp transaction data that can lead to loss of funds.
About Goplus
Goplus operates as a Web3 user security network that prioritizes transparency and user empowerment by providing permissionless security data and an end-user service environment.
The network offers a real-time, dynamic, and automated security detection environment, allowing for the swift identification of potential threats and security risks. Goplus handles over 20 million data calls daily, establishing its robust presence in the field.
Adoption — “Don’t Trust, Verify!”
The seamless integration of SignScreener within our dApp browser helps users evade well-known wallet-draining attacks and phishing scams.
This integration facilitates real-time detection of signatures stemming from potentially malicious or risky smart contracts and dApps or contains risks due to improper use of non-malicious contracts in a transaction.
Signature screening is currently available for dApp transactions on the following networks:
- ETH — 1
- Cronos — 25
- BSC — 56
- Heco — 128
- Polygon — 137
- Fantom — 250
- KCC — 321
- Arbitrum — 42161
- Avalanche — 43114
An example of an “Approve USDT” transaction for a malicious contract address that was flagged by the Fito SignScreener:
Conclusion
In conclusion, the implementation of SignScreener adds an extra layer of safety in the Web3 and DeFi environment for our users, while also helping them stay informed about new DeFi scams and how to avoid them.
By empowering users with real-time insights and tools that help mitigate crypto scams, SignScreener epitomizes Fito Wallet’s unwavering commitment to digital asset security and innovative solutions.
While we strive to improve the security of funds in the DeFi ecosystem, we also emphasize the importance of carrying out good research on dApps and projects you interact with rather than just trusting blindly.
