Uses blockchain and Web3 to incentivize users to participate and share essential threat data
ZUG, Switzerland, June 27, 2024 (GLOBE NEWSWIRE) -- Interlock today announced a Web3, incentivized crowdsourced internet security community that aims to make the internet safer for everyone, from individuals to global enterprises. Today the company also announced the worldwide general availability of its flagship product ThreatSlayer, a Web3 security browser extension that harnesses the power of blockchain, AI and a global community of users to revolutionize internet security.
Today’s announcement of the ThreatSlayer production version follows a year of beta testing by 29,000+ weekly active users, 80% of whom are outside the United States. The community already includes active members on X, Telegram and Discord.
Adding to the Web3 community buzz, Interlock's CEO recently appeared in Entrepreneur’s “Elevator Pitch,” where he garnered interest in a potential investment of $100,000 from Marc Randolph, Netflix co-founder and former CEO, in a broadcast viewed by 600,000 people.
Compatible with most major browsers, ThreatSlayer is available as a free download that installs instantly. It immediately begins protecting internet users from dangerous website URLs and scams, whether malicious links come from phishing, fake ads, search or browsing. By working as part of the browser, ThreatSlayer can block malicious sites before the damage is done. While helping everyone address the legacy problems in today’s risk-ridden Web2 internet, it is particularly well suited to Web3 early adapters and cryptocurrency enthusiasts.
Combining Crowd Power with AI to Revolutionize Internet Security
Born out of a need for more effective internet security despite billions of dollars spent on existing Web2 solutions, Interlock was conceived to combat persistent phishing and social engineering attacks with Web3 technology and incentivized community threat intel to deliver internet cybersecurity designed for a digital and crypto-focused world.
To power ThreatSlayer’s protection with the best threat intelligence available, Interlock rewards users for sharing anonymized security data. While no security solution is perfect, there is safety in numbers and building the world’s largest community for crowdsourcing threat intel is fundamental to what makes it revolutionary.
Equally revolutionary is the company’s groundbreaking use of blockchain and AI technology in its platform.
In the coming weeks, Interlock will introduce its own utility coin $ILOCK used to pay incentives and enable community members to use the crypto coins to facilitate rewards and security staking, where users can earn extra tokens for correcting Interlock’s threat detection when it gets something wrong. Think of it as a combined PayPal fraud and Twitter community note style review system. The $ILOCK coin will be available on Arbitrum, the leading Layer 2 (L2) network for Ethereum with a vast user base of 11.6 million and Aleph Zero, a privacy-focused public blockchain platform. By making the $ILOCK coin available on these platforms, Interlock empowers users with choice and enhances security for all participants, while expanding its network.
Interlock’s Roadmap
Interlock’s near-term product roadmap includes ThreatSlayer on the Mainent, Token Generation Event (TGE) and Security Staking.
Later this year, the company’s go-to-market business plan is to monetize the shared security data it is gathering in the $11 billion yearly B2B threat intel market, creating a first-of-its-kind crowdsourced threat intelligence platform. The company will also introduce enterprise versions of its products during the coming 12 months.
In keeping with the best practices of a Web3 community leader, Interlock is very transparent and offers a wealth of additional information in the resource center on the website and GitHub.
“Interlock’s mission is to solve legacy Web2 security issues by harnessing the power of Web3. Our unique approach is made possible by incentivizing users to share security data and use our security tools,” said Rick Deacon, co-founder and CEO at Interlock. “With ThreatSlayer leading the charge, we're establishing a new era of cybersecurity that's both effective and inclusive. As we embark on this journey, we're grateful for the support of our investors, who share our vision for a safer online world."
The company has raised $4.1 million in funding through two oversubscribed private sales of $ILOCK led by Outlier Ventures.
“We are very confident in our investment to support Interlock’s mission to revolutionize Web3 security,” said Jamie Burke, founder of Outlier Ventures. “The security implications of self sovereignty in Web3 are an impossible burden for most users. ThreatSlayer is a simple browser extension that protects individuals and lets them join an army of 29,000 users to crowd source threat intel and earn as they go.”
How Interlock’s Revolutionary Ecosystem Works
The Interlock ecosystem comprises ThreatSlayer, the internet security browser extension for users; Galactus, the data nexus and open-source rewards system; and Octahedron, a proprietary AI-driven threat detection tool.
In the Interlock ecosystem, ThreatSlayer users can opt-in for incentives to continually aggregate web activity and transmit anonymous threat intel data to Galactus.
Octahedron, the heart of Interlock’s technology, then uses the data to discern, classify and even predict malicious web entities.
An advanced AI threat detection tool, Octahedron was designed to navigate the complexities of cyberspace and continuously update ThreatSlayer to enhance its protection for users. Leveraging supervised learning from the SciKit-learn library, it excels in classifying objects, discerning relationships and predicting trends based on historical data. Using Interlock’s proprietary Decision Tree algorithm, it evaluates websites to identify potential threats and prevent users from entering risky cyber territories.
Octahedron has been trained with a variety of data, including known crypto scams, phishing links, dangerous URLs, malware and more, ensuring it has a sharp eye for trouble. Constantly fed with new data from the community, Octahedron continuously evolves into an ever more effective cybersecurity tool.
The addition of dimensions, such as the presence of specific keywords like "cryptocurrency" or "free money," scrutiny of suspicious JavaScript functions, detection of malicious code and evaluation of a website's domain reputation and traffic patterns, enhance its accuracy in identifying malicious websites. As Octahedron's dimensions multiply, so does its effectiveness in safeguarding against online threats.
As this robust internet security data ecosystem thrives, Interlock’s blockchain infrastructure, the backbone of the operation, ensures user trust and systemic security. Together, these components seamlessly weave a harmonized system, where data collection, threat analysis and token rewards converge in a synchronized dance.
Interlock’s Reputable Team
Interlock’s CEO and co-founder Rick Deacon has an extensive background in cybersecurity from hacking MySpace to building the next generation of Decentralized Security. Rick was the former CEO of a browser defense platform startup funded by Y Combinator, who sold their software technology to Coinbase, Gemini and Uber.
The company also benefits from the expertise of two senior advisors, Ethan Johnson and Ajeet Khurana. With over a decade of experience in cybersecurity, Ethan shapes Interlock's enterprise product strategy, drawing from his specialization in crypto architecture and control design. His security roles at Citadel Securities, Galaxy Digital and the Bank of New York Mellon underline his expertise in securing the emerging digital assets sector.
“Unlike a lot of AI companies that materialized overnight, Interlock's team has been building and tuning AI-based web browsing protections for years," said Ethan Johnson, Interlock Advisor. “I'm excited about their potential for making risky web browsing safer.”
Ajeet, founder of Reflexical, brings a robust background to assist Interlock in its mission to bridge the security gap in Web3. His previous roles, including CEO of India's largest CEX and Head of the Blockchain and Cryptocurrency Committee, equip him with a unique perspective and expertise for Interlock’s success.
“Interlock’s groundbreaking approach to incentivizing security combines the strength of artificial intelligence with the collective power of the crowd,” said Ajeet Khurana, Interlock Advisor. “In the realm of Web3 self sovereignty, security concerns can be formidable for most users. However, ThreatSlayer offers a unique solution. By seamlessly integrating AI and the community, users can identify threats and earn rewards effortlessly.”
Join the Interlock Community
If you are ready to get better internet protection and start getting rewarded for your browsing, download ThreatSlayer now and become a part of the fast-growing Interlock community. To learn more about ThreatSlayer, the Interlock ecosystem, Web3, blockchain, tokenomics and much more, visit our extensive resources library and be sure to check out our communities on Twitter, LinkedIn, Telegram and Discord. Feel free to drop in, say hi and ask questions.
About Interlock
Interlock pioneers the transformation of security within Web3 with its AI-powered browser extension, Threatslayer. Protecting users from dangerous websites, wallet drainers and scams, while also rewarding and incentivizing them to share data, Interlock fosters a unique crowdsourced threat intelligence platform. Interlock boasts 30,000+ weekly users and a 79,000-strong community and is backed by $4.1 million in funding from oversubscribed private sales led by Outlier Ventures.
Media Contact
Chloe Amante
Montner Tech PR
camante@montner.com
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