Overview
Magic Eden is a leading cross-chain NFT marketplace on Solana, Polygon, and Ethereum. Magic Eden is a business of two parts–serving creators via products like Launchpad which have launched over 500 projects, and a liquid secondary marketplace across chains.
The Problem
With over $2.5 billion in NFT trade volume to date, providing a secure platform that users can trust is paramount for Magic Eden. Phishing poses one of the largest threats to Trust and Safety, with near-constant attempts coming in increasingly creative forms. Phishing site templates for Magic Eden Ticket and Gift Box claims commonly spring up during any big announcement. New social media accounts claiming to be official Magic Eden support pop up in droves, constantly confusing customers. Lastly, fake Magic Eden airdrops are sent to wallets to scam users.
“We had tons of Magic Eden support accounts on Twitter everywhere.”
-Mike Son, Operations Lead
The Solution
The Magic Eden team needed a solution that could quickly identify and neutralize many different forms of deception. So they turned to Doppel Monitor, which provides auto-reporting of phishing threats, and saw an immediate difference.
Doppel’s AI-powered platform flagged and resolved cases that other providers missed, such as numerous phishing sites, social media accounts, and mobile apps flagged through a combination of image and logo detection models. The platform’s NFT indexers also caught airdrop scams that were then notified to other marketplaces.
“The ability for us to define our policy upfront and turn on an autopilot mode saves our team a significant amount of time fighting digital threats.” - Simon Ly, Corporate Counsel
In total, over 400 active and latent threats have been identified to date, and 127 fraudulent sites, apps, NFTs, and social media accounts have been taken down.
Results
Doppel Vision helps the Magic Eden team create a safe and thriving platform for the NFT community. With 24/7 monitoring and immediate action on deceptive activity, they can trust that the community’s digital presence will stay clean and protected from costly phishing incidents. For example, users searching Twitter for “Magic Eden support” will no longer see fakes, and the risk of wallet draining has been greatly reduced.
These measures ensure that users can put their trust in Magic Eden as it continues to grow and expand its platform and position as a leader in the NFT space.
“Doppel’s Web3 features are critical for reducing time to mitigation on phishing attacks across domains, social media, apps, and NFTs.”
