Crypto Updates

BlockSec Launches Phalcon Block – The World’s First Crypto Hack Blocking System for Web 3.0 Security

BlockSec Launches Phalcon Block – The World’s First Crypto Hack Blocking System for Web 3.0 Security

November 15, 2023 – Singapore, Singapore

Phalcon Block the world’s first automated attack-blocking system has been launched by BlockSec, ushering in a new era of fighting against hackers in the Web 3.0 world.
Phalcon Block – revolutionizing Web 3.0 security and protecting digital assets

Ensuring DeFi protocol security involves several critical stages, beginning with contract auditing and testing before the protocol goes live.

However, the importance of security measures does not stop once the protocol is deployed.

Continuous monitoring, attack blocking and incident response are essential for maintaining protocol security after deployment.

Phalcon Block offers an integrated solution that combines protocol monitoring, attack blocking and incident response, ensuring secure operations of protocols after they go live.

For two years, BlockSec has continuously refined the product in its battles against hackers, successfully blocking hacks tens of times and rescuing $14 million worth of digital assets.

Finally, BlockSec built an automated attack-blocking system with unparalleled precision and complete coverage, making it the first in the industry to actualize such a breakthrough.

Yajin Zhou, co-fonder and CEO of BlockSec, said,

“This is a milestone in the Web 3.0 security industry. Phalcon Block can help protocol parties block nearly all external attacks. We have spent two years on the development and refinement of Phalcon Block. The system is set to revolutionize Web 3.0 security.”

According to statistics, losses caused by hacker attacks have reached $7.3 billion, with $1.4 billion incurred in 2023 alone – so far.

Among the protocols that have fallen victim to attacks, there are renowned and trusted projects such as Curve and emerging ones like Nevertheless, the launch of Phalcon Block will turn things around.

Who benefits from Phalcon Block

For protocol developers, ensuring the security of TVL and DAO treasury funds becomes a priority.

Liquidity providers seek efficient asset withdrawal during protocol attacks.

Fund managers overseeing diversified token portfolios require swift liquidation options in extreme scenarios.

Exchanges are equipped to take immediate actions to thwart hacker escape.

Phalcon Block addresses these challenges comprehensively.

For protocol developers, a higher TVL in the protocol makes it more enticing for hackers and subsequently increases the associated risks.

Many factors can lead to…

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