How Web3 Antivirus Fights Scams or Why Web3 Security Should Become Addictive

The second episode of our tech series on how to start with the custom Web3 Antivirus, browse web3 securely, and live happily ever after. Lights, camera, action!

Why Web3 Antivirus is your thing

In the wild waters of Web3, safety is more of a must-have than a luxury. Welcome to our insights corner again! Today we’re back to dwell a bit more on the underlying magic of W3A.

Ask yourself whether you are easily tricked. We bet most think of themselves as alert persons, us included. Well, we’d better think again. During the first three months of 2022 alone, 46,000 users had lost over $1 billion in crypto. Tens of thousands of frauds happen on Web3 — day in, day out. And no one is safe from falling prey to ill-minded hacking wizards.

In a matter of a click, we all risk kissing goodbye to our digital assets or funds. Phishing websites, hacks into social media of big market players, corporate systems attacks — any of it could have happened if it wasn’t for lack of a reliable web3 security solution.

We owe you one — and you have one! Meet Web3 Antivirus, your trusted companion knowing malicious airdrops, fraudulent emails, and scams inside and out.

How to delegate troubles to Web3 Antivirus

In a nutshell, our web3 guard’s job is to make you think twice before accepting web3 transactions across NFT marketplaces, crypto exchanges, and beyond. Just like most antivirus extensions and web2 firewalls, it sits in your browser with no complex settings required.

Meaning, download W3A from the Chrome Web Store and live happily ever after. From now on, you can sit back and focus on business.

Once you enable it, W3A autonomously checks urls for phishing risks, and shows an audit window. What’s more, Web3 Antivirus analyzes smart contracts you’re about to deal with for suspicious logic in one go, under 10 seconds.

And that’s just a start. Let’s take a closer look.

Check domain security via the web3 guard

Imagine getting an email or a direct message in socials from, say, eBay or your bank, or car service, or government institution mentioning an initiated withdrawal. To cancel the unwanted transaction, you are given a link. Rings a bell? Exactly, this is phishing at its purest, similar to the way the Bored Ape NFTs were stolen.

That’s just how phishers are: pretend to be a trusted company, trick you into following a link to a fake or fraudulent website, sneak stealing your credentials, get away with fraud. Works like clockwork, a few get caught. Same with upgrade scammers piggybacking on major migrations or updates to get hold of your private keys.

So, web3 security anyone? Our Web3 Antivirus underlies proprietary anti-phishing ML algorithms. All at once, W3A validates website addresses against thousands of blacklists and whitelists, identifying suspicious content and hard coded logic if any.

Threat detected? Get a real-time scam alert, decline the malicious link, and avert a phishing attack. Eager to test boundaries anyway? It’s your call. The service isn’t that restrictive — you can still proceed.

Detect smart contract risks early on

Central to any deal across Web3, smart contracts should be crystal secure. Say, you browse your socials and run into an enticing suggestion. Could be minting a limited NFT or buying a brand-new crypto at some fraction of a cent. Under zero risk, they promise the asset value will soar past expectations all the way through the roof.

Bet your hunch says “fraud”. Good for you! Chances are it’s an investment scam and you end up all broke. Remember, fraudsters love impersonating “investment managers” or celebs’ middlemen.

Even worse, odds are they can reach you through online dating services. These impostors are labeled “crypto romance scammers’’. Except that it’s nothing like romance. As of the Federal Trade Commission’s 2022 report, the “relationships” cost victims jaw-dropping $139M last year.

Time that we stood up to those messy contracts. Found yourself zoned out in the middle of a deal? Not sure what you’re about to deal with? Doubting whether to sign a transaction? Web3 Antivirus has your back, easy as 1–2–3!

1. W3A intercepts MetaMask calls, traces transactions back, and checks all the smart contracts involved.

Known fraudulent activity, sanctioned entity or person? Red flag.

Contract unverified by the official creator? Suspicious logic or code? Too bad.

Requires access to nearly a whole lot of your data? Reddest of the red.

2. Web3 Antivirus simulates the transaction in question. It replicates processes in our custom-built EVM environment to show what happens if you proceed so as to warn you about potential malicious activity.

3. Based on the underlying risk matrix, the web3 guard generates a report that indicates an overall risk score and potential threats.

Now you’re all caught up! Fully aware of the risks, you’ll treat transactions cautiously.

Check wallet-associated financial risks

Believe you hate the idea your MetaMask wallet addresses scammers? Point taken! Very wise of you to stick with reputable crypto and NFT liquidity platforms. Though wait, unless you are bulletproof you can still get trapped by a trade malpractice scheme.

By following misleading recommendations on a fake platform, you come across a fraud crypto wallet. Watch out, that’s a malware scam. One careless click — and it infects your computer while snatching your private key. Well, kind of a private-grade apocalypse, right?

To make sure you never join the list of unfortunates who’ve been there, done that, we’re just about to roll out a W3A proprietary Anti-Money Laundering framework. Currently, we are underpinning it with an institutional-grade database with millions of assets and events, updated in real time. Expect the release in a couple of weeks!

Bring IP infringements out into the open

Ever came upon platforms advertising top crypto currencies like BTC or ETH at several percent below the market? Not necessarily a scam, but you’d better see through all these big quotes. The promise of skyrocketing ROI may impose on you huge fees and drag you into opaque investment schemes.

Needless to say, the fake crypto exchanges are kind of supermassive black holes leaving neither a trace of your funds nor a light of hope.

To be on the safe side as you inspect crypto products, NFTs, and domains, our Web3 Antivirus is to bring into play computer vision and NLP models. Yet another release to look forward to, live soon!

Bear with us for a safe web3 experience

Security is king, and the Web3 Antivirus team specializes in helping you be forewarned when browsing Web3. Whenever you need help, we’re here for you.

Take care, stay safe on web3!