Blockfence Crypto Security Blog

The decentralized finance (DeFi) market is a rapidly growing segment in the evolving crypto ecosystem. The impressive performance of DeFi solutions in recent years has shifted users’ perception of digital assets. These defi protocols seek to address specific pain points in the traditional finance markets.

As Web3 continues redefining the future of the Internet and money, it’s becoming increasingly clear that innovative technology has limitations. One of the biggest challenges facing the Web3 ecosystem is security.

The cryptocurrency industry has taken the world by storm in the past decade, evolving from obscurity to a trillion-dollar asset class. This makes it an incredibly compelling story of the 21st century.

Over the past few years, non-fungible tokens (NFTs) have become high-value assets, attracting thousands of users and investors worldwide. Unfortunately, NFT holders are prime targets for hackers who exploit vulnerabilities in crypto wallets and trading platforms to steal these valuable digital assets.

MetaMask is probably the most popular non-custodial crypto wallet, with over 30 million users worldwide. The Consensys-based wallet rose to fame during the DeFi boom of 2020, especially with its growth tracking closely with the Ethereum ecosystem.