Blockfence Announces Strategic Partnership With Forta Network

Blockfence partners with Forta Network to improve the security of Web 3 users.
The partnership aims to identify malicious smart contracts and reduce losses for their users.
Over 1000 risky contracts were discovered in March alone.

Blockfence, a blockchain security aggregation and abstraction infrastructure provider announced its partnership with Forta Network, a real-time, decentralized network providing detection services and security monitoring, this Thursday. The partnership aims to improve the security of Web 3 users across the Ethereum blockchain by checking, analyzing and identifying malicious smart contracts. Forta Network will provide the monitoring systems to identify these risky smart contracts on Blockfence to prevent losses from phishing, hacking, wallet-draining and other scams.

“We are excited to partner with Forta Network to offer our users even more advanced protection against threats to their digital assets,” said Omri Lahav, CEO of Blockfence. “Our advanced web extension combined with Forta Network’s real-time threat detection will enable users to feel confident interacting with Web3 assets.”

Forta is a Web 3 ecosystem that aims to reduce threats to smart contracts by detecting threats and anomalies on DeFi, NFT, governance, bridges, and other Web3 systems in real time. This allows developers, users and other stakeholders to react to the risks and neutralize any threats which could cause losses to users’ funds. Blockfence provides a security aggregation platform that provides users with end-to-end protection, detecting fraud and malicious activities on all levels.

According to the teams’ joint statement, the collaboration will allow Forta Network to conduct a thorough examination and mapping of the Web 3 ecosystem, including both on-chain and off-chain data. On its part, Blockfence will secure this data with layers of security analysis, using its platform’s in-house techniques and strategic collaborations to ensure the security of users’ funds.

Speaking on the latest collaboration, Andy Beal, Forta Foundation’s Ecosystem Lead, believes the partnership with

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Author: CryptoDaily

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