A new blockchain security solution could revolutionize crypto safety by preventing over 99% of hacks and scams, which cost the industry more than $2.3 billion in 2024. According to Cyvers, a blockchain security firm, offchain transaction validation can preemptively detect and stop malicious activities before they occur.

Michael Pearl of Cyvers highlights that this technology could have thwarted major incidents like the $230 million WazirX hack. As crypto phishing scams continue to wreak havoc, centralized exchanges and wallet providers are increasingly interested in adopting this innovative solution to safeguard digital assets.