Summary
The Bitcoin.com Wallet app gives warnings if a blockchain address is high-risk based on HAPI, a blockchain cybersecurity protocol. In this article, we will talk about what HAPI is, why it is useful, and what to do if you receive a warning.
Table of contents
What is HAPI?
Bitcoin.com has partnered with HAPI to bring blockchain cybersecurity protection to the Bitcoin.com Wallet app. HAPI is an on-chain cybersecurity protocol dedicated to preventing fraud and hacker attacks. The HAPI network is constantly monitoring potential threats, such as money laundering, hacking, and unauthorized transaction of funds. When a potential threat is detected, organizations within the HAPI network are notified.
As a member of the HAPI network, the Bitcoin.com Wallet will check if your blockchain addresses have been flagged by HAPI, and warn you if any risk exists.
Why is HAPI useful?
Online fraud is an unfortunate reality with all services connected to the internet. Web2 applications used to experience high levels of fraud and hacks, but have built up layers of protection over the course of more than 20 years. For example, fraud sites that look exactly like sites we all use every day (Facebook, Gmail, your bank) used to be quite common. Those frauds still exist, but they are rare and they don’t last very long before being taken down.
Web3 applications are in the process of building up those protective services. HAPI is one of those crucial protective components. For example, HAPI maintains a constantly updating database of fraudulent sites that the Bitcoin.com Wallet checks to make sure a web3 application you use is not on it.
What should I do if I have received a warning?
If you receive a warning, you should cancel the transaction and spend a little time checking to make sure the website is legitimate. It’s important to note that just because you receive a warning doesn’t mean the service you are interacting with is illegitimate.
Below are a couple of steps you can do to check if you might be interacting with a malicious web3 application.
Search for the project on CoinGecko. In the “Info” area you can go to the vetted website. It is unlikely that CoinGecko’s link will send you to a fraudulent site.
In CoinGecko’s Info area, check with the community on Twitter and Telegram or Discord. See if there have been any announcements about recent hacks or other problems. If the project doesn’t have Twitter, Telegram, or Discord, be wary.
Google the project with keywords such as, “scam” or “hack.” Check out any pertinent results.
If you have checked these things and haven’t found any red flags, then you can decide to resubmit your transaction. To be safe, you can always reduce the amount of crypto you are transacting with just to be safe.
Does this mean I am being tracked?
No! The Bitcoin.com Wallet app only pulls data from HAPI’s database which is used to check for potentially dangerous addresses. It does not share any user data.