1inch Network Teams Up with Blockaid for Shield API

1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

Source: cryptotimes.io

Hello there! I'm a 21-year-old university student majoring in Finnish and Korean Language and Literature. I have a deep passion for art and a profound connection to the natural world. My journey through life has been a colorful one, driven by my love for creativity, music, and the wonders of the great outdoors. As a dedicated student, I've already earned a degree in Classic Cantos, a testament to my appreciation for the timeless beauty of classical music. Beyond the classroom, my artistic spirit thrives through my love for painting and drawing. These creative outlets allow me to express my thoughts and emotions, transforming blank canvases into vibrant stories. My interests go far beyond music and art. Singing, playing the piano, and exploring new melodies are integral parts of my life, providing me with both solace and exhilaration. When I'm not immersed in the world of art and music, I find solace in nature's embrace. My heart is drawn to animals and the serene beauty of the natural world, fueling my desire to protect and preserve our precious environment.
Hipther

FREE
VIEW