Our mission at PhishFort is to safeguard the crypto space from scams. We believe that in order to drive widespread adoption of crypto, users first need to feel safe when interacting with their crypto assets. In a move to help develop user trust in crypto, we’ve partnered with Fortmatic to provide anti-phishing protection to dApps using their authentication service.
Fortmatic simplifies interacting with web3 dApps by removing the need for users to have specific extensions or software installed on their devices. Using Fortmatic, dApp users can authenticate themselves, transfer funds, and make calls to smart contracts using only their phone number. Fortmatic removes the need for users to worry about managing mnemonic phrases or private keys, overcoming an important user experience hurdle currently faced by dApps.
dApp developers can easily integrate Fortmatic with their dApps by including a few lines of code in their application. Users will then be presented with the option to log in using a combination of user-created PIN and SMS based OTP mechanism.
dApps are at very high risk of being targeted by phishing attacks. When users interact with a dApp, they expect to be signing transactions and potentially transferring their crypto. To make matters worse, users often deploy their own smart contracts, and don’t have a deterministic way of validating whether the smart contract that they’re interacting with is the legitimate version. This makes it easy for attackers to clone a dApp, modify a few lines of code to insert their own wallet address, and then profit from users sending funds to the incorrect address.
Fortmatic and PhishFort have teamed up to help dApps tackle this issue. PhishFort now provides a basic monitoring solution for Fortmatic dApps, which can aid in detecting when an attacker creates a clone of the dApp. PhishFort will then notify the dApp team, who can seek out assistance from PhishFort if they need help getting it taken down.
We’re excited about our partnership and the impact it will have on security and usability of building on web3.0!