This Web3 security protocol recovered $800K in user funds after Vulcan Forged exploit
This Web3 security protocol halted on-chain transactions to recover $800,000 in Vulcan Forged user funds after a Web3 gaming platform suffered a security breach. As Web3 gets bigger, it struggles to keep up with the malicious actors targeting users’ funds across different blockchains and networks. This security protocol takes a preventive approach against hacks and exploits, freezing assets before they get stolen. Web3 benefits from being a digital-first ecosystem for innovation and growth. However, it also opens up the appetite of malicious actors, including hackers and exploiters, in the digital realm. The bigger crypto and Web3 get, the more they become vulnerable to hacks and exploits — victimizing users and causing the loss of billions. From decentralized finance (DeFi) platforms to nonfungible token (NFT) marketplaces, no one can claim full invulnerability against attacks targeting investors, traders and funds stored across the Web3 industry. DeFi exploits also move the related ...