TAIPEI, Oct. 1, 2023
/PRNewswire/ -- Base's new killer DApp, the
decentralized social network Friend.tech, is breaking
transaction records with record adoption, but is being targeted by
hackers and scammers through phishing attacks.To raise awareness of
the importance of hardware wallet protection and promote its
powerful Web3 SmartScan transaction screener, CoolWallet has
launched a Web3 Guardian competition.
Coinbase's new Ethereum layer-2 chain,
Base, has become a favorite for DApp developers and early investors due to
its outstanding performance and the innovative projects it
attracts. One DApp in particular,
the decentralized social media platform Friend.tech,
has driven the bulk of its growth in recent weeks. helping Base
repeatedly reach new transaction volume highs despite difficult
Friend.tech's rapid rise has garnered widespread attention-
according to the latest data, the daily active user
(DAU) count of friend.tech have surpassed the million
mark, with its transaction volume consistently hitting new records
and its total value locked (TVL) now surpassing $35 million.
However, with any crypto trends comes new security
risks, in this case a familiar foe, phishing attacks. This type of
social engineering attacks dominate crypto thefts,
which by June 2023 had already hit
the $650 million mark across the Web3
sector. This month alone has already seen successful attacks
targeting high-profile victims Mark
Cuban and Vitalik Buterin and
stealing millions in the process.
As a result, Base and Friend.tech users are urged to use a
reputable hardware wallet to secure their tech digital assets by
protecting their private keys and screening transactions.
In response, hardware wallet maker CoolWallet, which natively
supports the Base ecosystem, has launched an anti-phishing campaign
titled Web3 Guardian Competition to create awareness and
promote its unique defense capabilities such as CoolWallet
SmartScan, which proactively screens all Web3 transactions and
flags malicious behavior or smart contract vulnerabilities before
users are exploited.
How Friend.tech works
Friend.tech has garnered a cult following among
crypto enthusiasts as one of the first
decentralized social networks to be built on the Base
blockchain. It's powered by blockchain and smart contracts, where
users must buy "shares" of another person in order to chat with
them. Its tagline is "Your network is your net worth".
To use Friend.tech, users must first sign up with their Twitter
(X) account, create a profile and then start trading shares of
other users who have also signed up. A user's share price is
determined by factors like their popularity, reputation, and
Buying shares of another user gives you access to them, allowing
you to message them directly and chat. The more shares you buy, the
higher a priority your messages will be.
Friend.tech recommends hardware wallet protection
With crypto phishing attacks claiming even
high-profile victims such as Vitalik
Buterin and Mark Cuban as
victims in recent weeks, it's no surprise that Friend.tech also
places great emphasis on asset security.
It therefore recommends that users utilize a hardware wallet for
enhanced protection against threats like phishing sites. Storing
assets offline makes them less accessible to online hackers, thus
offering greater security.
CoolWallet's SmartScan Flags Web3 Phishing Threats
CoolWallet (established in 2014) has since the launch of its
CoolWallet Pro flagship model in 2021 pivoted strongly to securing
Web3 assets, which requires users to interact with
DeFi protocols that could potentially drain their
accounts if they authorize the wrong transaction.
CoolWallet Pro in particular makes for an ideal Friend.tech
hardware wallet as it's one of the first cold wallets to support
the Base network, and boasts several elite security features, such
- an EAL6+ secure element
- biometric verification (both on phone and device)
- tamper proof and waterproof design
Importantly, its CoolWallet App comes with real-time Web3
transaction analysis scanning called Web3 SmartScan.
While cold storage is as safe as can be, the biggest
vulnerability remains human error or a lapse in judgment, where the
user is tricked into authorizing a bad transaction or revealing
their recovery seed or private key to a bad actor.
CoolWallet's SmartScan, available on its CoolWallet App,
provides Web3-native protection against phishing attempts. It
automatically screens transactions and flags attempted phishing,
suspicious transactions and smart contract vulnerabilities. This
makes using cold storage even safer to use, and elevates CoolWallet
above other hardware wallet brands.
Web3 Guardian Competition- Secure Your Crypto
for the Next Bull Run!
To promote Web3 asset protection among blockchain users and help
them safeguard their crypto portfolio with SmartScan
until the next bull run, CoolWallet is launching a global new
competition aimed at enhancing user security awareness with
generous rewards to participating users.
For more details, please visit their website's event page or X
Base is a secure, low-cost, builder-friendly
Ethereum L2 built to bring the next billion users on
Friend.tech is an emerging DApp focused on social
interactions and cryptographic asset management. It provides users
with a secure and efficient blockchain platform. The platform
currently operates on the Base chain and is continuously expanding
its features and user base.
CoolWallet is a pioneering Web3 hardware wallet brand
established in 2014 by CoolBitX that offers users the comfort of
convenient and fully portable cold storage of all digital assets,
including DeFi and NFT crypto assets.
CoolWallet Pro is a flagship Web3 hardware wallet that boasts a
wafer-thin smart card form factor, an EAL6+ secure element,
military-grade Bluetooth encryption, and a tamper proof and
water-resistant exterior, while its custom CoolWallet App offers
users a choice of DeFi marketplaces, DApp support and real-time transaction
CONTACT: Domo Zhuang,
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