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International Business Times
International Business Times
Business
Marvie Basilan

Web3 Liability: Balancing Enhanced Consumer Protection And Legal Risk Mitigation With Blockaid

SEC Crypto blockchain
Blockaid offers enhanced security capabilities centered on prevention over reaction. (Credit: Blockaid Website/Screenshot)

KEY POINTS

  • A recent paper showed that consumer lawsuits are increasingly 'creative' in their claims against Web3 firms
  • Such creativity stems from higher expectations from Web3 players since security technology is evolving
  • 'What was once considered 'proactive' may now be seen as the bare minimum': Blockaid
  • Blockaid focuses on prevention over reaction, offering solutions for multi-layered security capabilities

Web3 firms and platforms face heightened risk from consumer lawsuits due to exploits and fraud within the space as consumers' expectations regarding security reach new highs.

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