Bitget Wallet Launches Contract Risk Detection Tool to Strengthen Security

April 11, 2025 at 01:42 AM EDT

SAN SALVADOR, El Salvador, April 11, 2025 (GLOBE NEWSWIRE) -- Bitget Wallet, a leading Web3 non-custodial wallet, has introduced the token contract risk detection feature to strengthen transaction security across its platform. The feature enables users to screen for potential risks before engaging with tokens, reflecting Bitget Wallet's continued commitment to user protection and transparency in decentralized finance.

The feature is now available for tokens on six major blockchains including Ethereum, Solana, BNB Chain, Base, Polygon, and Arbitrum. Accessible directly within the token candlestick chart interface, users can review essential contract data, including permission status, token distribution among top holders, and burn ratios. These indicators help identify potential vulnerabilities such as excessive centralization or active minting permissions, which may signal higher risk.

As onchain participation increases and interest in long-tail assets grows, users are navigating an increasingly fragmented and complex token landscape. Without reliable data, it becomes challenging to assess token credibility and contract behavior. According to the Onchain Report, 37% of users cite security risks as their top concern when using crypto for payments or transfers, highlighting the demand for accessible tools that address these challenges. The launch of Bitget Wallet's detection tool aims to bridge this gap with greater clarity and control.

The new tool complements Bitget Wallet's broader security framework, which includes MEV protection by default, onchain transaction simulation, and integrated threat detection. Together, these measures form a comprehensive protection system designed to minimize user exposure to malicious contracts and trading vulnerabilities.

"As DeFi adoption accelerates, providing users with accessible tools to evaluate risk is no longer optional — it's essential," said Alvin Kan, COO of Bitget Wallet. "This feature is part of our broader strategy to empower users with the information they need to navigate Web3 safely and confidently."

About Bitget Wallet
Bitget Wallet is the home of Web3, uniting endless possibilities in one non-custodial wallet. With over 60 million users, it offers comprehensive onchain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser and crypto payment solutions. Supporting over 130 blockchains, 20,000+ DApps, and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges, along with a $300+ million protection fund to ensure safety of users' assets.