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A major concern for users of decentralized finance (DeFi) is its susceptibility to exploits. A report by Privacy Affairs found that hackers stole $4.3 billion worth of cryptocurrency between January and November 2022, a 37 percent increase over the previous year.

Such exploits harm the integrity of companies and skeptics from outside the space in their case against cryptocurrencies. However, in a Feb. 2 announcement from Web3 Builders, the company revealed a set of tools to combat this problem.

The original TrustCheck browser extension was created to flag Web3-related scams before users continue to interact with them. This new toolset builds on that with the Web3 Builders Transaction Checker, Website Checker, and Smart Contracts Checker.

Web3 Builders CEO Ricky Pellegrini said this is an integral moment for the industry to prove its credibility.

“It’s an unfortunate truth that fraud and scams are still rife in the Web3 space.”

According to the announcement, the tools scan about 30 million suspicious domains daily and test for vulnerabilities in about 55 million Ethereum smart contracts.

Related to: DeFi-type projects received the most attacks in 2022. Report

He went on to say that even in the last month, the toolkit has detected dozens of scams listed on popular platforms, marketplaces and exchanges.

In the past week, there have been a number of new attacks that have exploited millions of people from space. This includes one on February 1, where the BonqDAO protocol lost $120 million after the Oracle hack.

Last week, hackers hacked Azuki’s Twitter account and stole $758,000 in just 30 minutes. Financial services platform Robinhood also had its Twitter account hacked on January 25, during which hackers attempted to promote a fraudulent token.

Nicholas Horelik, technical co-founder and chief blockchain officer at Web3 Builders, said understanding what’s going on with your transaction is critical to keeping assets safe.

“End users deserve to have this functionality on any platform they choose, and enterprises should implement solutions like this to keep their customers safe on Web3.”

On January 24, the Wormhole hacker moved $155 million out of a total of $321 million stolen, the largest movement of stolen funds in months.