Is there a comprehensive solution to Web3 security concerns? – Q&A with W3A

Security is one of the biggest concerns among crypto enthusiasts, and with good reason. Cryptocurrencies, being decentralized and digital, are subject to various forms of cyber attacks, and digital wallets that store these assets can be easily transferred and stolen without the possibility of recovery. This has led to an increase in fraud and malicious schemes aimed at stealing users’ coins and tokens.

In this interview, Alex Dulub, a seasoned expert in the blockchain industry and a member of the Forbes Technology Council, shares his views on what needs to be done to make the Web3 space more secure. He has extensive experience in this field and shares the motives for creating Web3 Antivirusa browser extension that helps protect cryptocurrency users from web3-specific scams and malicious attacks.

Q: Security is one of the top concerns on the lists of crypto enthusiasts. Why is this so, and what are the most common tactics used by attackers to get hold of investors’ assets?

Security is a major concern in the world of cryptocurrencies as cryptocurrencies, being decentralized and digital, are subject to various forms of cyberattacks. In addition, cryptocurrencies are often stored in digital wallets and can be easily transferred and stolen beyond recovery, unlike traditional bank accounts.

All crypto enthusiasts, myself included, attach great importance to digital assets, attracting scammers who are constantly coming up with new schemes to take users by surprise and steal their coins and tokens. Some of the most common scams include phishing, fake websites, copycats, and malicious smart contract logic.

Q: Is this the motivation for creating Web3 antivirus?

Yes, helping people feel safe and confident when browsing and transacting on Web3 is the main motivation behind Web3 Antivirus.

Web3 Antivirus was created after we saw that many of our clients and friends lost their tokens due to ignorance or negligence. While it is important to take steps to protect your private keys, such as using a Faraday cage or generating seed phrases with a built-in entropy source, these efforts can still be thwarted if someone is able to take control of your account and list your tokens for sale. . That’s why we developed Web3 Antivirus to help protect our users from such threats. We have applied our first-hand knowledge to create a solution capable of detecting Web3-specific fraud in seconds.

Q: How does Web3 antivirus help crypto users protect their assets?

W3A is a browser extension that acts as a layer of protection between users and potential Web3 dangers in real time. When a transaction needs to be committed, the extension pauses it briefly, runs a simulation of the transaction, breaks down each interaction into atoms, and checks I/Os, internal logic, and performs statistical code analysis.

Our extensive data set of crypto assets, containing historical data and hundreds of millions of records, is also used for risk assessment. In a matter of seconds, we process the user’s request with huge amounts of data, providing comprehensive due diligence and presenting information in a clear and actionable format.

Web3 Antivirus also color-codes contracts to determine their risk level based on the number of threats and their severity: green for low risk, yellow for medium risk, and red for high risk.

Q: Why did you get into the crypto security sector? You have extensive experience in the blockchain industry. Is safety the most important aspect of the space that needs to be improved?

Yes, I strongly believe that the crypto security industry needs a lot of improvement. There are now many vulnerabilities in the operation of the Web3 domain, making it vulnerable to exploitation by fraudsters.

Blockchain technology can be complex, and scammers take advantage of the misunderstanding of non-technical users. They can lead users to make a critical mistake, such as signing a malicious smart contract or sharing a passphrase or private key.

This is why I see W3A as an intuitive and educational security tool that allows users to understand the potential dangers they may encounter without having to do extensive research on their own.

Q: You are a member of the Forbes Technology Council. Tell our readers about it. Is blockchain technology taking over the mainstream tech industry?

I am honored to be a member of the Forbes Technology Council as it gives me the opportunity to connect with like-minded people in the technology industry and share my knowledge and experience.

As far as blockchain is concerned, I believe it is still in the early stages of its mainstream adoption in the tech industry. However, it has great potential for success. You see, a few years ago only technology enthusiasts knew about the technology, but now blockchain has become a widely discussed topic in various industries and sectors, from finance to healthcare and government.

Q: What are your goals as the founder of W3A for 2023? What can users expect from the company this year?

Here are some of our goals for 2023 in the context of cryptocurrency security:

• Set a new standard for Web3 security with a level of protection similar to that of antivirus software of the past. We are committed to improving the overall security of the web3 space and helping users to be confident in the security of their assets.

• Raise awareness about cryptocurrency scams and fraudulent activities. We will continue to acquaint the audience with the different types of crypto-attacks and how to detect and prevent them.

• Take action to curb the growing trend of losses due to crypto attacks. Web3 Antivirus is designed to reduce the frequency and impact of successful attacks on users and the crypto industry as a whole.

By achieving these goals, the crypto industry can become a safer environment for both investors and users.

The Web3 Antivirus team will remain vigilant against new threats, leaving no chance for scammers to win. Users can count on new features and security updates, as well as educational resources to keep them up to date.