Hello, Web3 Firewall!

Tl;dr: Zengo is introducing a Web3 firewall: A new paradigm for safe and secure web3 transactions. In 2022 alone nearly $2 billion of NFTs and cryptoassets were stolen in malicious hacks affecting even hardware wallets. Zengo’s Web3 firewall, ClearSign, informs, alerts, and protects Zengo users against approving the most sensitive and vulnerable Web3 attacks. Combined with Zengo’s MPC security architecture that removes private key vulnerabilities, Zengo continues to innovate as the most secure crypto wallet in Web3.

A new paradigm in Web3 Security: ClearSign Firewall

Web3 feels like a highway without stoplights. Transacting in Defi and NFTs feels like being blind in a risky road with likely accidents and wallets make no effort to properly inform you and protect you about those risks. That can no longer be the case.

Zengo’s ClearSign technology classifies sensitive on-chain transactions a user makes into 3 risk levels, based on transaction sensitivity, levels of permission granted to external systems, and known scams. Just like a stoplight, with 3 levels of safety.

  • Green: This interaction is with a verified Dapp and/or known smart contract.
  • Yellow: This interaction is context-dependent but generally reflects uncommon behavior: Stay alert and confirm that intent is aligned with expected results.
  • Red: ClearSign has detected highly unusual behavior and immediate attention is required. Most of the most sensitive red transactions require a double-confirmation.

Green Alerts: Verified Dapps

Zengo is integrating leading Web3 Dapps and known smart contracts to confirm when you are connecting to original contracts, and not fake or phishing websites that try and confuse you into giving away your assets. Look for the green checkmark during the signing process.

Verified smart contracts: Zengo has incorporated verified smart contracts on dapps like OpenSea and UniSwap to provide the clarity and assurance that you are interacting with the legitimate dapps’ smart contracts.*

Signatures: Sometimes a Web3 dapp will request you to “sign” something. These types of actions are context-dependent: Sometimes they are harmless, and other times they have been used to steal assets from users.

This can be a stressful moment for many. WHAT are they asking, and how can you be sure that the request you are approving is a benign signing request – and not a more nefarious attempt to gain access to assets in your wallet?

  • Do you intend to simply sign and authenticate a general message? Zengo has verified Dapp signing requests from Dune, CollabLand, and others as benign – and will be adding additional dapps in the future.
  • To add your Dapp to the waitlist, contact us: [email protected].

Yellow Alerts: Suspicious approvals & Uncommon behaviors

Some transactions are potentially suspicious, others are absolutely fine: Many times it depends on the context of the transaction and your intention. Millions of dollars have been stolen in transactions because it was unclear to the user what they were approving. ClearSign brings a new level of transparency and clarity to these types of transactions:

  • Do you intend to send or transfer your crypto or NFTs to a private address, when you thought you were actually engaging with a Web3 dapp smart contract?

If the answer is yes – great: Go ahead. But if the answer is NO: Then this ClearSign alert might just save you from losing millions of dollars