Bitget Wallet Unleashes GetShield: Your Ultimate Security Companion

In the fast-evolving world of blockchain and cryptocurrencies, security is paramount. With the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs), protecting your digital assets has become more crucial than ever. Bitget Wallet, a leading name in the crypto space, is taking a significant step towards ensuring your peace of mind with the introduction of "GetShield," a comprehensive security brand designed to provide top-tier protection for your assets.

GetShield: Your Trusted Security Companion

The very logo of the "GetShield" security brand encapsulates its core philosophy—safety and protection. Bitget Wallet understands that in the dynamic landscape of Web3, security is not just a feature but a fundamental need. The essence of GetShield is to build a sturdy, all-encompassing, and intelligent shield to safeguard your assets.

Key Features of GetShield

$300 Million User Protection Fund

Bitget Wallet shares in a robust $300 Million User Protection Fund with Bitget Exchange, ensuring an unprecedented level for user assets and further fortifying overall risk tolerance.

MPC / Hardware Wallet Support

Bitget MPC (Multi-Party Computation) Wallet offers an innovative and secure approach to cryptocurrency storage. It distinguishes itself by providing a "keyless" user experience, eliminating the need to manage complex mnemonic phrases or private keys. Users can easily create an account with email login authentication, making it particularly accessible for newcomers to the world of crypto. Additionally, Bitget MPC Wallet also employs the Threshold Signature Scheme (TSS) and follows industry-wide security standards while also adopting the "2/3" approach that ensures that a minimum of 2/3 key shares is required to complete a signature process, enhancing the overall security of the wallet.

Read here for more information on Bitget MPC Wallet!

Further, Bitget Wallet is also compatible with hardware wallets such as Keystone, providing yet another additional layer of security for users.

Approval Checker

Users may employ the approval checker tool within Bitget Wallet to examine permissions granted to third-party applications, thereby proactively identifying potential security risks. For instance, users might have granted permissions to certain applications previously that they may have forgotten about. The approval checker tool can reveal these permissions, and will allow users to promptly revoke high-risk authorizations or those that are no longer necessary with just one click directly from within the wallet. Timely detection and revocation of suspicious authorizations can help prevent asset theft or other losses.

In addition to the security features already launched by Bitget Wallet, new measures will also be introduced soon, such as NFT risk detection and greater anti-phishing capabilities. Through Bitget Wallet's collaboration with the GoPlus Security team, the Bitget Wallet team is dedicated to comprehensively enhancing the security and user experience of cryptocurrency wallets, empowering users to explore the world of Web3 with a greater peace of mind.

Risk Token Detection

Bitget Swap, the platform's integrated multi-chain DEX aggregator, supports a staggering 255,400 tokens across 90 blockchains. As such, it is imperative for users to thoroughly screen and verify a particular token before performing any interaction with it. Bitget Wallet integrates GoPlus security archives and databases to introduce cutting-edge threat detection alerts to preemptively keep users safe from malicious tokens and contracts.

It is important to note, however, that users should still perform their own due diligence and research into a token's security background before committing to a purchase. Bitget Wallet's security detection feature should not be relied upon as the sole determinant for gauging a token's risk level.

Smart Contract Detection

Users have the opportunity to leverage an effective inspection tool, designed through the collaborative efforts of Bitget Wallet and GoPlus Security, offering users with a swift evaluation of the security status of smart contracts tied to Tokens, NFTs, and DApps. This proactive strategy effectively shields users against potential asset losses attributed to vulnerabilities in these contracts. Concurrently, the inspection tool is adept at isolating exact risk zones within the contracts. This precision empowers users to gain a deeper and more holistic comprehension of the smart contracts they are considering for use.

This heightened understanding aids users in making informed decisions about whether to interact with a specific smart contract, thereby significantly mitigating potential usage-related risks.

 

Address Query

Bitget Wallet takes proactive measures to shield users from potential security hazards associated with honeypot addresses, unusual wallet addresses, high-risk contracts, and more. To achieve this, Bitget Wallet has seamlessly integrated with the open-source security address repository offered by GoPlus Security. This strategic integration empowers the wallet to effectively discern diverse types of risky addresses and contracts, enabling it to promptly affix risk designations and provide risk notifications to users.

Should a user attempt to transfer funds to these dangerous addresses or contracts, Bitget Wallet promptly triggers alerts, notifying the user about impending dangers. For instance, if a recipient's address is designated as high-risk, the user will be alerted to a specific notification type that corresponds to the risk category of that particular address. These notifications typically fall within one of the three primary categories outlined below:

Please be aware that due to the unpredictability and covertness of fraudulent practices, not all risky contracts or addresses have been catalogued and as such, the absence of a notification does not provide a 100% guarantee of security. Users should remain vigilant, enhance their judgment abilities, and practice due diligence to protect their assets when accessing third-party websites and conducting transfers.

Related reading: Identifying Risks and Safeguarding your Trades in DeFi

DApp Security Review

When users access DApps within Bitget Wallet's DApp browser, the system automatically examines whether the DApp might pose security risks. If a potential security risk is detected, a clear warning about the DApp's potential risk is presented to users before the jump into the malicious DApp. This allows users to make informed decisions about whether to proceed to the DApp based on the alert prompt given. This dual-layer protective mechanism not only facilitates direct DApp access within the wallet but also proactively alerts users to potential security risks associated with the DApps, thus comprehensively safeguarding users' interaction security.

Anti-Phishing Mechanism

Within the world of Web3, phishing websites are a popular tool utilized by malicious actors to lure unsuspecting users into connecting their wallets and granting authorization. Doing so would allow the malicious actor to gain transfer authorizations and steal assets from their victims' accounts.

To address this, Bitget Wallet has enhanced its risk notifications for third-party websites, which serve as the first line of defense. Users will be alerted to warnings when they attempt to access these fraudulent websites or proceed with phishing scams.

When users access third-party URLs and open suspicious links, Bitget Wallet automatically checks if the website domain is listed on the blacklist domain database. If the website in question is designated as a potential phishing or malicious website, Bitget Wallet immediately displays a security prompt, warning the user about the potential risks associated with the site.

 

Closing

Bitget Wallet GetShield is a multi-pronged approach that provides users with all-rounded security parameters to ensure that they are kept safe at every stage of their Web3 journey with Bitget Wallet. From transactions to DApp browsing, Bitget Wallet GetShield ensures that users are protected from malicious threats and risks that may lurk unseen.

Bitget Wallet GetShield: Safeguarding Your Assets, Every Step of the Way.

 

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