BlockAid has announced a partnership with the SUI Foundation to enhance security in the SUI ecosystem.
According to the announcement, BlockAid adds protection to SUI wallets to address SUI smart contract exploits, offshane threats and operational failures.
The SUI Foundation supports the growth of SUI, the Layer-1 blockchain launched in May 2023. According to a blog post, the total number of blockchains reached 67.3 million in 2024. As of March 11, SUI had acquired a total of $1 billion locked $1.1 billion, up from $2 billion on January 6th.
https://www.youtube.com/watch?v=p2cjzxexcik
Announcing $50 million Series B funding in February, BlockAid will provide security tools for Web3 spaces to clients such as Stellar, Avalanche and Coinbase. In November 2024, Blockaid partnered with Backpack to prevent a $26.6 million loss in potential losses from a decentralized financial attack on Solana.
Users on the SUI network have recently been targeting malicious actors. On January 26th, Crypto Sleuth ZachxBT reported an attack that caused $29 million losses to users on the SUI network, with stolen funds mixed using Tornado Cash. Investigators said current limitations in SUI Blockchain Explorer and analysis tools made theft difficult to track. In June 2023, SUI issued a $500,000 bounty to blockchain security company Certik for discovering another threat to the network.
Related: WLFI Defi Qualifications after SUI Partnership are under fire
SUI programming languages ​​reduce threats, but auditing is still needed – slowlist
In a September 2024 post on Medium, blockchain security company Slowmist did a detailed analysis of the SUI network and wrote that coding of Move, the SUI programming language, is necessary, reducing many of the problems facing blockchains using other languages.
“Compared to other blockchain platforms, Move Language is better at preventing vulnerabilities in common smart contracts. “However, developers need to pay attention to business logic security to avoid loss of assets due to code errors and inappropriate designs, especially in areas such as permission management, object type usage, and token consumption.”
According to SUI, mobile designs can prevent many common vulnerabilities found in other networks, but they can be vulnerable to protocol-level attacks, including threats such as timestamp dependency, logic errors, unstable randomness, and gas-limited vulnerabilities.
Related: Crypto-mixer and cross-chain bridge: How hackers wash stolen assets
