On the 20th of October, 2022, Phantom wallet announced that they had protected 1,386 users from 4,828 scam transactions.
1/ In the past week, we’ve prevented 1,386 unique Phantom users from signing 4,828 wallet-draining transactions! 🤯
— Phantom (@phantom) October 20, 2022
The month of October has been riddled with increased scam activities, with notable entities like Binance cross-chain hub falling prey to their exploits.
Yet Phantom seems to be able to get ahead of the curve by partnering with Blowfish. Blowfish provides a firewall that helps users identify dangerous or phishing transactions in real-time, allowing them to react in time to protect their assets.
It does this at the user-wallet level since these are the basic terminals used to interact with other crypto ecosystems. This is why the wallet is also usually targeted by scam contracts.
Blowfish utilizes machine learning, cybersecurity, and the experience of multiple blockchains in the web3 industry to develop an infrastructure aimed at securing crypto transactions.
The Blowfish infrastructure has an impressive record of scanning more than 125 million transactions and stopping more than 11,000 attacks.
Speaking on the partnership Francesco Agosti, the chief technology officer for Phantom, had good things to say.
He said that with the aid of Blowfish, thousands of Phantom users had been protected from Malicious scams and frauds. Added to that, the Blowfish API is easy and reliable to use, and they know that with the partnership, Blowfish would continue to build a wonderful product staying ahead of the scammers.
With phantom relentless efforts to protect their users, scammers are also as relentless, with one scammer having built up to 97 phishing websites specifically to target the NFT community.
Is the Phantom team deterred? No.
In their announcement, they made it clear that though the scammers are working hard, Phantom’s team is working harder to develop new fraud detection signals that allow them to detect and block discount websites within minutes of going live.
Phantom also assured their users that security is and will always be their top priority. The partnership with Blowfish is one of the many steps they have in store with more automated scan detectors in the pipeline.
Phantom… to the moon