Coinbase Wallet integrated Blockaid’s transaction simulation and validation five months ago to better protect users from bad actors.
Coinbase Wallet, a self-custody wallet operated by the owner of the cryptocurrency exchange Coinbase, integrated the Blockaid security tool in late 2023.
Announcing the news in a joint report to Cointelegraph on March 13, Coinbase Wallet and Blockaid said that the new tech was integrated five months ago to provide additional layers of security for Coinbase users.
With the integrated Blockaid technology, Coinbase has managed to save more than $75 million of funds from being stolen, the companies said. According to the announcement, the security tool stopped nearly 800,000 wallet connections to malicious decentralized apps (DApp) by scanning and analyzing 114 million transactions and DApp connections.
