The crypto market is rife with scams, and simply clicking the sign button is not enough. To enhance security and give users peace of mind, D’CENT wallet, South Korea’s mobile-first hardware wallet, has introduced real-time threat detection.
Think of it as a sniffer that scans transactions even before the signing process begins. This pre-emptive protective measure is effective, preventing users from making critical mistakes.
Pre-Sign Protection: Taking the First Safe Step
It is not always the software’s fault when malicious transactions make their way to a user’s wallet. The crypto market moves fast, and the virtue of patience is often forgotten, leading many to approve transactions without thinking. D’CENT has therefore come up with a way to think for the customers.
How it works is simple. As soon as you copy a wallet address to send tokens to, D’CENT’s new protection module scans it and issues a warning if that address is linked to any suspicious activity.
Now, if we get into the technical details and examine what’s happening under the hood, D’CENT explains it in simple terms.
The wallet now continuously monitors transactions and leverages its real-time threat detection system powered by Blockaid. This means every action, whether the user is sending tokens, signing a smart contract, or connecting to a decentralized application, is scrutinized by D’CENT wallet for any phishing patterns.
To support this, D’CENT provides an insulated environment for the scans to occur, away from any browser interference.
Every transaction is checked against a global database of scam tokens, risky smart contracts, and flagged wallet addresses. Whenever a threat is detected, D’CENT sends an alert before the user proceeds with signing.
This approach is not entirely novel, as it takes inspiration from platforms like Coinbase, OKX, Kraken, and MetaMask. However, it is still powerful, giving users an additional layer of security.
Detecting All the Malicious Elements
As already mentioned, D’CENT takes a holistic approach to threat detection, ensuring that all elements are accounted for. The detection system focuses on the following three components:
Transactional Simulation and Validation
Before committing to any transaction, D’CENT wallet simulates it and assesses what could happen in the background. This is done to determine whether proceeding with the transaction could result in unintended or harmful outcomes. If malicious activity is detected, the wallet immediately sounds an alert.
Malicious dApp Detection
Malicious decentralized applications often take advantage of underlying complexity to conceal bad actors. D’CENT ensures they do not go unnoticed. It thoroughly examines the smart contracts of these dApps, analyzing both their behavior and reputation. If risks or abnormal patterns are identified, users receive a clear warning.
Malicious Token Detection
Some tokens, when used in a transaction, may trigger abnormal behaviors or hidden threats. D’CENT monitors these elements closely, flagging any tokens that could attempt to drain funds or introduce other harmful effects.
Security Should Not Rely on Users Knowing: IoTrust CEO
Highlighting the need for wallets to have integrated security, Sang Su Baek, CEO of IoTrust, said, “Security should not rely on users knowing how to read smart contracts or recognize red flags.” He emphasized that new users should feel safe when interacting with the cryptocurrency space, which means existing tools must help guide investors to make better choices.
“It should actively protect you by flagging threats before you sign anything,” he added.
With this update, D’CENT has taken another step toward realizing its broader vision of creating an environment that makes Web3 interactions safe. This active approach, which focuses on real-time threats, could potentially bring even more users into the crypto space, as they will no longer need to rely solely on safe yet archaic methods like cold-wallet storage.
About D’CENT
D’CENT represents a vision of combining accessibility and modern technology through crypto storage and wallet solutions that follow a mobile-only approach. Developed by the South Korean security company IoTrust, it features a unique biometric authentication system, complete with secure hardware.
Supporting over 85 blockchain networks and more than 4,600 crypto assets, the platform is designed for seamless dApp integration. Through its unified mobile app, it helps safeguard users’ assets. With the introduction of the new tool, the value of this ecosystem has now grown even further.
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