Trustcheck: Web3 Builders Inc. announced the launch of what it calls a “free” cyber security tool to protect users against crypto scams, hacks and fraud. It comes as incidents of online theft have risen sharply in 2022. Hackers have stolen over $2 billion in crypto this year.
The TrustCheck tool is a Chrome browser plug-in. It warns crypto users when suspicious activity is detected on their desktop computers or laptops.
Riccardo Pellegrini is the CEO of Web3 Builders, who made the plugin. “First, it detects known scam sites and will warn and redirect the user to safety,” Pellegrini told BeInCrypto. “Second, if a site is not identified as a known scam, TrustCheck examines the site’s source code for wallet drainer code.”
“When these are detected, the user is similarly warned and redirected to safety.” TrustCheck also analyzes data from “tens of thousands of scams and millions of wallets” via machine learning in order to curb fraudulent transactions.
“It then displays the results to the user by offering an explanation of what’s about to happen in the transaction and showing a warning in the event it detects something off. Users are free to decide whether to stop the transaction or proceed,” added Pellegrini.
Web3 Builders: What is it?
Web3 Builders Inc. is made up of a group of Ethereum decentralized applications (dApps) developers from diverse backgrounds. It includes builders from places like Harvard, MIT, Coinbase and Amazon Web Services….
