Web3 cybersecurity startup Eleos Labs is integrating its FailSafe suite of anti-theft and fraud detection methods into the Polygon community.
In partnership with GrabDefence, a proprietary anti-fraud SaaS resolution from Southeast Asian multi-platform Seize, to strengthen Eleos Labs’ financial danger evaluation capabilities, a brand new pilot program shall be launched to supervise the mixing.
Primarily based on 2023 In keeping with Chainalysis Cryptocurrency Report, $3.8 billion in crypto was misplaced to theft and one other $5.9 billion to fraud. Backed by a crew of web2 cybersecurity advisors from Courageous Browser, Microsoft, Google, and Ethlas, Eleos Labs deploys confirmed providers that shield customers from stolen personal keys, good contract hacks, and exploits of limitless ERC-20 validations .
FailSafe protects property with a number of layers of safety, equivalent to real-time detection of safety dangers, decreasing the assault floor, and intercepting malicious operations. These providers are impressed by the crew’s expertise working with cybercriminals and cash laundering syndicates at Web2.
Contemplating that Polygon is the quickest rising community of Dapps for Ethereum, Eleos Labs determined to accomplice with the community because the startup sees a chance to realize large-scale influence by working with its ecosystem of builders and companions. The partnership was solid by way of a collection of in-depth discussions and product demonstrations detailing FailSafe’s use circumstances.
“Web3 is at an inflection level because it evolves from an experimental frontier for early adopters to an area the place everyone seems to be welcome, no matter expertise or technical talent degree,” stated Urvitas Goel, Head of World Enterprise Growth at Polygon Labs. the report stated. “Safety is an indispensable element of the consumer expertise that enables us to start out mass adoption, and instruments like FailSafe pave the best way ahead.”
The startup stated in an electronic mail to the Metaverse Submit that that is in step with Polygon’s purpose of bringing the advantages of Net 3 to the lots. That is evidenced by Polygon’s sturdy monitor document in Web2 enterprise adoption throughout industries, together with partnerships with Starbucks, Reddit, South Korea’s Lotte Group, Sq. Enix, and extra.
“The dearth of sensible and efficient safety options is among the greatest obstacles to the mass adoption of Web3,” stated Foo Wui Ngiap, Group Advisor at Eleos Labs. “Simply because the Web has turn into a safer place over the past three a long time, Web3 should additionally undergo this journey.
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