Ledger, a prominent hardware wallet platform, has commenced a new collaboration with Cyvers Alerts, a notable Web3 security firm. The partnership aims to integrate an innovative security feature called “Transaction Check” into Ledger to prevent the risks related to blind signing crypto transfers. The platform took to its official social media account to reveal this landmark development.
Ledger and Cyvers Alerts Join Forces to Unveil ‘Transaction Check’
Ledger is integrating the ‘Transaction Check’ feature in partnership with Cyver Alerts to put an end to blind signing. It is a dangerous vulnerability that exposes users to phishing, malicious hacks, and scams. Particularly, it takes into account signing a blockchain transfer without completely comprehending the content thereof. This often takes place due to opaque or unreadable transfer data. Scammers effectively exploit the respective gap to trick consumers into authorizing malicious or harmful transactions.
Nonetheless, the Transaction Check addresses these risks to eliminate the long-standing challenge faced by the users. The security feature utilizes the cutting-edge AI technology of Cyvers to deliver rapid fraud detection, human-readable transfer summaries, as well as AI-based risk scores. Hence, the feature lets users have a secure and clear overview ahead of confirming their actions on-chain.
Eliminating Security Risks to Protect User Transactions via Cutting-Edge AI Insights
As per Ledger, by integrating “Transaction Check,” the platform permits its consumers to get risk assessments and alerts before completing a transfer. Thus, in the case of an unanticipated token swap, a likely phishing attempt, or a malicious contract interaction, the system offers protection and clarity in real-time. As a result of this, the platform is inviting consumers to leverage this remarkable feature to secure their transactions. Overall, the advancement delivers users a notable opportunity to go risk-free in their Web3 journey.
