Web3 cybersecurity startup Eleos Labs is integrating its FailSafe suite of anti-theft and fraud detection techniques into the Polygon community.
Working with GrabDefence – a proprietary anti-fraud SaaS answer to the versatile Southeast Asian software Seize – to energy the chance scoring capabilities of the Eleos Labs portfolio, a brand new pilot program can be launched to supervise the mixing .
In response to Chainalysis’ Crypto Crime 2023 report, $3.8 billion in crypto was misplaced to theft and one other $5.9 billion to scams final yr. Supported by a group of Web2 cybersecurity advisors from Courageous Browser, Microsoft, Google and Ethlas, Eleos Labs deploys confirmed providers that defend customers towards non-public key theft, good contract hacks and ERC-trust exploitation. 20 limitless.
FailSafe secures belongings with a number of layers of safety reminiscent of real-time safety threat detection, assault floor discount, and malicious transaction interception. These providers draw on the group’s expertise coping with cybercriminals and cash laundering syndicates in Web2.
Contemplating that Polygon is the quickest rising Dapps community for Ethereum, Eleos Labs determined to accomplice with the community because the startup sees the chance to drive influence at scale by working with its ecosystem of builders and companions . The partnership was cast via a sequence of in-depth discussions and product shows detailing FailSafe’s use instances.
“Web3 is at an inflection level because it evolves from an experimental frontier for early adopters to an area that welcomes everybody, no matter their degree of expertise or technical ability,” Urvit Goel, vice- president, head of worldwide enterprise growth at Polygon Labs, mentioned in an announcement. “Safety is an indispensable a part of the sort of consumer expertise that drives us to mass adoption, with instruments like FailSafe paving the best way ahead.”
The startup informed Metaverse Submit in an electronic mail that it resonates with Polygon’s purpose of bringing the advantages of web3 to the plenty. That is evidenced by Polygon’s robust monitor document in driving enterprise Web2 adoption throughout a number of industries, together with partnerships with Starbucks, Reddit, South Korea’s Lotte Group, Sq. Enix, and extra.
“The shortage of sensible and efficient safety options is among the largest limitations to mass adoption of Web3,” mentioned Foo Wui Ngiap, Eleos Labs Group Advisor. “Similar to how the Web has advanced right into a safer place over the previous three a long time, Web3 should additionally undergo this journey.”
