Fuse and Check Point are building a blockchain firewall designed not only to track but also to prevent unsafe transactions.
Artificial intelligence applications have significant potential in crypto, especially in security. On Tuesday, April 15, layer 2 blockchain Fuse partnered with cybersecurity firm Check Point to create an AI-powered threat-prevention layer.
This security layer for the Fuse network would use artificial intelligence to scan transactions before they complete. The AI would then use its training data to determine whether a transaction is likely to be fraudulent.
“Prevention is always better than a cure,” said Fuse CEO Mark Smargon. He hopes that stated that he hopes the new security layer would become a standard for protecting layer two networks.
“With Check Point providing a dedicated security layer, we’re confident that we can not only deter hackers, who are becoming increasingly sophisticated, but pioneer a cybersecurity model that will become the gold standard for protecting web3 protocols,” Mark Smargon, Fuse CEO
Security is still a major risk in Web3
While web3 tech has developed significantly, concerns over its security are hurting its mainstream appeal. As all transactions on chain are final, signing the wrong smart contract or sending funds to the wrong address can have serious financial consequences.
To attract mainstream users, crypto protocols need robust anti-hacking and fraud measures, said Dan Danay, Head of Web 3.0 Security at Check Point.
“Just as robust cybersecurity powered the rise of Web 2.0, real-time prevention will be key to Web3’s mainstream adoption,” Dan Danay, Check Point.
For instance, crypto hacking losses amounted to $98.19 million in January, despite a decline in asset prices. While the figure was down 39% from $160 million in January 2024, hacking risks continue to be a top concern. At the same time, phishing attacks in the same month amounted to $10.25 million.
