1inch security and deterrent measures

1inch Network-photo

by 1inch Network

• 2 min read

Thanks to 1inch's persistent efforts, users' operations have steadily become safer and more secure.

Security and compliance are top priorities for 1inch. Using the most advanced tech and collaborating with the most reliable partners in the cybersecurity and compliance space, we are one of the leaders in Web3 security and anti-crime measures.

Transactions are automatically scanned to detect and flag possible fraudulent activity, while all addresses connected to 1inch are subject to a real-time scan. If a threat to a 1inch product is detected, the connection is immediately blocked, as 1inch offers money-laundering and sanctions-risks protection for addresses. All blockchain addresses that are connected to 1inch or are involved in swaps via 1inch as liquidity providers (which are KYBed), undergo 24/7 screening for ties to sanctions, terrorist financing, hacked or stolen funds, ransomware, human trafficking and more.

24/7 screenings are powered by TRM Labs, which uses on-chain and off-chain data to detect possible security risks. In 2023 alone, TRM Labs screened over 12 mln wallets attempting to connect to 1inch. 1inch also employs Etherscan Pro to bolster its blocklist program.

In addition, 1inch has developed a comprehensive blocklist solution designed to ensure a safer and more secure DeFi ecosystem for legitimate users. This solution leverages multiple layers of investigation, community collaboration and partnerships to address growing concerns about illicit activities taking place on blockchains.

We offer users a convenient way to access 1inch and other DeFi platforms. 1inch uses multiple APIs to help protect wallet users via dApp scanning, transaction simulation and validation, as well as malicious token detection. 1inch Wallet users receive a warning before engaging with harmful dApps and before signing a potentially malicious transaction.

Importantly, 1inch is one of the most thoroughly audited projects in the Web3 space. All 1inch smart contracts, as well as the 1inch Wallet, have been repeatedly audited by the industry’s top experts. In addition, 1inch smart contracts are non-upgradable by design, meaning that there are no admin rights/ keys, which dramatically reduces the risk of hacking.

Even if a swap involves a compromised liquidity pool, 1inch users’ funds won’t be accessed by hackers. For all swaps on various DEXes via 1inch, token approvals are only granted to heavily audited, highly-protected 1inch smart contracts, which rules out the possibility of approving tokens to a compromised pool. Conversely, in a swap made directly on a DEX, the user would have to trust the DEX’s smart contracts, which could have vulnerabilities.

1inch smart contracts are regularly audited by leading industry experts, including OpenZeppelin, Consensys, HEXENS, Zokyo, Decurity, Pessimistic and Cure53. The 1inch Wallet has been audited by Blue Frost Security and HackerOne.

Meanwhile, combating brand abuse is another investment by 1inch in security. A fake designer t-shirt might be quite harmless, but a fake 1inch website asking users to connect their wallets could result in a substantial loss of user funds. 1inch employs Phishfort and Red Points to identify and take down fake websites, social media accounts and applications that exploit the 1inch brand for scams.

1inch is always on the lookout for cutting-edge security technology and reliable partners to ensure our users' journey and 1inch product experience are as smooth and safe as possible.

We’re continuously working on safety and security – so you can focus on what you intend to do with 1inch products. If you want to learn more about 1inch Security, a set of tools and technologies that 1inch has tested over the years to create a defensible line against bad actors in the DeFi space, you can consult the 1inch Security Whitepaper.

Stay tuned for more exciting updates on security measures coming soon!

1inch Network-photo

1inch Network

Share the article

Copy done!
Copy done!