The Web3 ecosystem is advancing rapidly, driving innovations in decentralized finance (DeFi), NFTs, the metaverse, and more. However, alongside these breakthroughs, the sector faces escalating security challenges. Fraud, phishing, and money laundering are increasingly pervasive, endangering user assets and ecosystem stability.
In 2024 alone, the cryptocurrency industry reported losses in the billions due to hacking and fraud. These security issues not only undermine user trust but also pose major barriers to mainstream cryptocurrency adoption. High-profile cryptocurrency thefts have further eroded investor confidence.
The USDT BlackList project, launched in April 2023, offers a free service for checking the risk levels of cryptocurrency addresses. The platform enable Web3 users identify and avoid on-chain risks. By integrating multi-dimensional data sources, it has developed an intelligent risk analysis system that brings transparency to potential on-chain threats and delivers precise risk warnings. To date, the platform has successfully helped users avoid tens of thousands of high-risk addresses.
After over a year of centralized operations, we realized that relying exclusively on our team is insufficient to comprehensively address the governance of on-chain risks. To involve more individuals in safeguarding Web3 security and to achieve transparent and equitable risk management, we decided to transition to a decentralized governance model via a Decentralized Autonomous Organization (DAO).
Through the Web3 Security DAO (W3SD), our goal is to establish a global Web3 security community where individuals, companies, and organizations can become part of the governance structure. Together, we will develop and maintain the world's largest Web3 risk database, empowering every user to contribute to the security of the Web3 ecosystem.
© 2024 Web3 Security DAO (W3SD)
