Bitget Wallet Enhances Security with Smart Authorization Detection

VICTORIA, Seychelles, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Bitget Wallet, a prominent Web3 non-custodial wallet, has introduced an upgraded authorization detection feature. This new functionality aims to give users more control over their assets and improve overall security.

The recent upgrade allows users to review all previous DApp and token approvals, helping them identify potential risks and revoke unsafe permissions with just a single tap. As security concerns continue to rise within the cryptocurrency space, Bitget Wallet is dedicated to providing a safer, more transparent Web3 experience.

Many users tend to unknowingly grant excessive permissions that allow decentralized applications (DApps) to access their assets indefinitely. This can lead to increased security risks. With Bitget Wallet's enhanced tool, users can categorize authorizations based on their risk level: Low, Medium, or High. High-risk approvals may include unlimited token transfers, staking or withdrawal permissions, contract upgrade backdoors, and NFT transfer rights.

Users can access the 'Approval Detection' feature from the wallet’s homepage after updating to version V8.29. This feature enables them to scan and revoke unnecessary or risky authorizations, thereby minimizing the likelihood of unauthorized asset movement.

As a non-custodial wallet, Bitget Wallet ensures that users maintain complete control over their private keys. This eliminates counterparty risks that are often associated with centralized platforms. To further enhance security, Bitget Wallet utilizes Multi-Party Computation (MPC) technology, which distributes private key shares across multiple entities, preventing single points of failure.

Additionally, it employs a Double Encryption Storage Mechanism (DESM) to provide an extra layer of protection for private keys. To further secure transactions, Bitget Wallet features the GetShield security engine, which continuously scans DApps, smart contracts, and websites to detect phishing attacks, malicious addresses, and fraudulent contracts before users engage with them.

Bitget Wallet collaborates with respected security firms such as CertiK, SlowMist, and GoPlus Security. This partnership ensures thorough code audits, risk monitoring, and proactive threat detection. Beyond its advanced security infrastructure, Bitget Wallet offers financial protection through its industry-leading Protection Fund, which started at $300 million and has now grown to $625 million, sustained by 6,500 BTC in on-chain reserves. This fund serves as a safety net for users in the event of any security incident related to the platform.

Alvin Kan, COO of Bitget Wallet, stated, "The recent industry events highlight the importance of true self-custody and strong security measures. Security has always been our top priority. We are committed to empowering users with full control over their assets while providing robust security tools and financial protection. With our upgraded authorization detection, MPC technology, and Protection Fund, we continue to set the standard for a safer and more resilient Web3 experience."

About Bitget Wallet: Bitget Wallet is at the forefront of Web3, combining endless possibilities in one non-custodial wallet. With over 60 million users, it provides a wide range of on-chain services, including asset management, instant swaps, rewards, staking, trading tools, live market data, a DApp browser, an NFT marketplace, and crypto payment support. Bitget Wallet supports over 100 blockchains, more than 20,000 DApps, and over 500,000 tokens, facilitating seamless multi-chain trading across numerous decentralized exchanges and cross-chain bridges. Additionally, it guarantees the safety of user assets with a protection fund exceeding $300 million.

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