Thomas Daniels
Bitget Wallet has introduced a new contract risk detection feature, marking a significant step toward improving user safety within the decentralized finance ecosystem. The feature is designed to help investors identify vulnerabilities in digital assets before making a trading decision.
The newly launched tool is now integrated into Bitget Wallet’s interface and supports six of the largest blockchain networks by market activity: Ethereum, Solana, BNB Chain, Base, Polygon, and Arbitrum. According to a statement shared with crypto.news, the tool scrutinizes token contracts for red flags such as excessive centralization and active minting permissions—both of which can signal an elevated risk of price manipulation or potential rug pulls.
Available within the candlestick chart interface of Bitget Wallet, the tool displays critical contract data including permission statuses, top holder distribution, and burn ratios. These indicators offer traders a data-driven approach to assessing the integrity of digital assets. A token disproportionately concentrated among a few wallets, for instance, poses a heightened risk of manipulation or sudden market exits. Conversely, higher burn ratios may indicate a healthy deflationary mechanism, potentially contributing to positive price dynamics.
Alvin Kan, Chief Operating Officer at Bitget Wallet, emphasized the necessity of robust security tools in the fast-evolving DeFi space. “With the rapid growth of decentralized finance, providing users with accessible tools to evaluate risk is no longer optional,” Kan said. “This feature is part of our broader strategy to empower users with the information they need to navigate Web3 safely and confidently.”
The tool arrives amid increasing concerns among crypto users regarding transaction security. Findings from the Onchain Report indicate that 37% of crypto users cite security threats as their top concern when conducting transactions on-chain. Bitget Wallet’s solution aims to alleviate some of these anxieties by enhancing transparency around token mechanics.
This release follows Bitget Wallet’s recent deployment of an MEV (Miner Extractable Value) protection upgrade, integrated directly into its Swap feature. The upgrade defends users from predatory trading tactics often employed by MEV bots, further reinforcing Bitget’s commitment to secure and equitable trading environments.
