Web3 cybersecurity startup Eleos Labs is integrating its FailSafe suite of anti-theft and fraud detection techniques into the Polygon community.
In partnership with GrabDefence, a proprietary anti-fraud SaaS answer from Southeast Asian multi-platform Seize, to strengthen Eleos Labs’ financial threat evaluation capabilities, a brand new pilot program shall be launched to supervise the mixing.
Based mostly on 2023 Based on Chainalysis Cryptocurrency Report, $3.8 billion in crypto was misplaced to theft and one other $5.9 billion to fraud. Backed by a workforce 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, corresponding to real-time detection of safety dangers, decreasing the assault floor, and intercepting malicious operations. These providers are impressed by the workforce’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 associate with the community because the startup sees a chance to realize large-scale affect by working with its ecosystem of builders and companions. The partnership was solid by a sequence 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 stage,” mentioned Urvitas Goel, Head of World Enterprise Growth at Polygon Labs. the report mentioned. “Safety is an indispensable part of the consumer expertise that permits us to start out mass adoption, and instruments like FailSafe pave the way in which ahead.”
The startup mentioned in an electronic mail to the Metaverse Publish that that is according to Polygon’s objective of bringing the advantages of Internet 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 without doubt one of the greatest obstacles to the mass adoption of Web3,” mentioned Foo Wui Ngiap, Group Advisor at Eleos Labs. “Simply because the Web has turn into a safer place during the last three many years, Web3 should additionally undergo this journey.
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