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CRYPTO NEWS DESK — 2022-07-11

Visual blockchain data app Bubblemaps teams with Hacken to bring additional safety to DeFi investors


Hacken, the blockchain and crypto security platform, today announced it has established a partnership with Bubblemaps, a supply auditing tool for DeFi tokens & NFTs, to allow investors to make better-informed decisions utilizing easy-to-read on-chain data infographics and smart contract audits. Bubblemaps produces multicolor bubbles for users to see connections between different crypto wallets. If The post Visual blockchain data app Bubblemaps teams with Hacken to bring additional safety to DeFi investors


Visual blockchain data app Bubblemaps teams with Hacken to bring additional safety to DeFi investors

Hacken, the blockchain and crypto security platform, today announced it has established a partnership with Bubblemaps, a supply auditing tool for DeFi tokens & NFTs, to allow investors to make better-informed decisions utilizing easy-to-read on-chain data infographics and smart contract audits. Bubblemaps produces multicolor bubbles for users to see connections between different crypto wallets. If the wallets holding the biggest shares of a project’s tokens are closely linked to each other, it is considered a suspicious sign. Namely, there is a risk that a whale investor splits its tokens between connected wallets to hide its status. Bubblemaps use-cases include the fight against wash trading, wallet-splitting, and manipulations with voting power. Benefits of partnership for users of Bubblemaps For Bubblemaps.io, a partnership with Hacken is a mechanism to bring additional safety to DeFi investors. By correctly analyzing the project’s token supply and the results of a smart contract audit, users can conclude whether investing in this venture is an opportune decision and what are the associated risks. As a result, the projects that neglect meeting essential security requirements with visible token supply manipulations will not be able to obtain new financing.

'For Hacken, this partnership is a big step toward implementing our mission – making Web 3.0 a safer place. The availability of a smart contract audit and other forms of security testing does not guarantee that a project meets the highest ethical standards. Using the infographics provided by Bubblemaps, our community can try to assess the risk that a particular project may make a rug pull or scam exit. Don’t neglect to analyze token supply before making any major investment decisions!' - The Hacken Team

The post Visual blockchain data app Bubblemaps teams with Hacken to bring additional safety to DeFi investors appeared first on CryptoNinjas.

— CryptoNinjas.net of CryptoNinjas - Bitcoin, Cryptocurrency and Blockchain Asset Source

Keywords: Security



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