Sushi Taps Partnership with GoPlus Security to Improve Users’ Safety

• Sushi has inked a safety deal with GoPlus Security to identify threats in the Web3 world.
• Using GoPlus Security’s technology, fraudulent tokens can be identified to shield users.

Decentralized Finance (DeFi) platform Sushi has announced a collaboration with GoPlus Security to advance users’ safety. This partnership highlights Sushi’s commitment to user security amid an increasing number of threats in the crypto space.

Sushi Integrates GoPlus Security’s Token Security API

As part of the deal, Sushi will integrate GoPlus Security’s Token Security API into its platform. The function of the Security API includes thorough risk assessments, detailed token information, and transaction security checks, ensuring potential threats are identified and mitigated quickly.

At the moment, Sushi employs GoPlus Security’s Token Security API to evaluate the risk of new tokens and identify fraudulent ones such as honeypots and scams. This proactive strategy guarantees that dangers are promptly identified and eliminated, shielding users from dangerous tokens.

A comprehensive security examination that includes in-depth analysis, transaction verifications, and risk assessments is performed on each token. The platform’s overall security is improved by this procedure, which guarantees that only safe tokens are available.

According to the arrangement, users receive instant popup warnings when a token is considered dangerous. This assists them to make informed decisions and avoid potential dangers. As a result, Sushi reduces the risk of users falling victim to scams like rug pulls by ensuring a secure trading environment. Users wishing to experience the enhanced security feature can visit the Sushi’s platform to commence trading.

It is worth noting that Sushi’s collaboration with GoPlus Security is only one of the several measures the protocol has taken to guarantee that trading on its platform is safe and secure. Sushi describes its platform as one that prioritizes users’ safety. Thus, users can expect ongoing updates and enhancements, according to the exchange. Some supporters of the platform include Metamask, Polygon, LayerZero, and Arbitrium.

Goplus Security is well-positioned for the partnership as it is well-known for providing thorough security research and insights for ERC20 tokens on a range of networks. 

“By proactively identifying and mitigating crypto scams together, we are not only safeguarding users’ investments but also reinforcing trust and security within the crypto community,” says Eskil Tsu, Co-Founder of GoPlus.

Sushi is among the leading platforms in the DeFi ecosystem providing services such as lending, token swapping, yield farming, and liquidity provision. Since its launch in 2020, Sushi has focused on inclusivity, transparency, and open-source collaboration, empowering users to manage their cryptocurrencies independently.

The Challenge of Crypto Scams

Security has been a pervasive issue casting a shadow over the crypto sector since its inception. Hackers and fraudsters continue to create havoc for users even though other sectors have seen rapid progress in recent years.

In November, Ledger, a crypto self-custody service raised an alarm for XRP token holders regarding an uptick in scam attempts. Echoing earlier coverage by Crypto News Flash, these fraudulent activities have become more sophisticated, frequently utilizing false airdrops to trick unsuspecting users into compromising their digital assets.

Thus, there is a need for next-generation security solutions to support the industry for crypto to continue on its stellar pace.