Opera reveals Web3 Guard to enhance crypto security and protect against cyberattacks

by   |  VIEW 745

Opera reveals Web3 Guard to enhance crypto security and protect against cyberattacks

Opera, a leading Web3 browser, has introduced a new suite of security features to help crypto users browse the web more securely. The new feature, called Web3 Guard, is part of the Opera Crypto Browser and aims to provide an extra layer of protection against malicious actors.

The tools available in Web3 Guard include protection against suspicious websites, decentralized applications (dApps), and phishing attacks. The built-in Dapp Check tool scans for security risks such as suspicious or audited code, while the Seed Phrase Phishing Check tool scans websites for signs of potential phishing attacks.

This is especially important given the increased vulnerability of crypto users to cyberattacks and fraud. In 2022 alone, over $4.3 billion was lost due to hackers throughout the crypto space. Data shows that crypto investors are losing millions of dollars of their crypto assets due to 15 crypto scams happening every hour.

In October, Solidus Labs revealed that 12% of BEP-20 tokens (BNB Chain tokens) and 8% of all ERC-20 tokens (Ethereum-based tokens) were scams. These scams can take various forms, from phishing attacks that try to trick users into giving away their login information, to fake ICOs (initial coin offerings) that promise high returns but never deliver.

The introduction of Web3 Guard by Opera is a welcome addition to the crypto space, as it provides users with a way to protect themselves against these types of attacks. By using the tools available in Web3 Guard, crypto users can more easily identify and avoid suspicious websites and dApps, as well as protect themselves against phishing attacks.

Danny Yao, senior product manager at Opera said:

"Currently, Web3 Guard provides warnings and information to users so that they are not only aware of the potential risks in the moment, but also gradually become more familiar with the types of dangers specific to Web3.

" This added layer of security can help users feel more confident in using the crypto space and encourage wider adoption of cryptocurrency. It is important for users to remember to always exercise caution when interacting with the crypto space, and the tools provided by Web3 Guard can be a valuable tool in helping users stay safe.