$UNI
Uniswap Labs has partnered with web3 security company Blockaid to develop a new on-chain detection and response system aimed at protecting decentralized exchange (DEX) users from malicious token attacks.
If users interact with tokens flagged as potentially malicious, Blockaid's tool will alert them. This tool will be rolled out on Uniswap's web, mobile, and self-custody crypto wallet extensions. It combines static (comparing contract source code with known viruses) and dynamic (using virtual environments to trigger contracts) verification heuristic methods along with various machine learning capabilities to help validate the legitimacy of tokens. Blockaid's technology can detect and prevent common scams, including celebrity impersonators and other phishing schemes, as well as more technical scams that do not rely on social engineering, such as the “100% sales fee” trick, where sellers set fees at the level of the purchase price, causing buyers to be unable to receive assets even if they are legitimate.
Blockaid was founded in 2022 and is a web3 security company actively scanning for suspicious activities across various blockchains, with its software being used by Coinbase, Stellar, and Metamask, and reportedly preventing over $4 billion in potential losses.