Chatsight, safety as a service company, provides an additional layer of security to social media platforms like Discord and Telegram. The San Francisco-based startup is making safety in Discord servers its main business. Chatsight wants to help combat cyber attacks as the Federal Trade Commission recently reported that over $1 billion in crypto had been lost to scams since 2021.
Marcus Naughton, the founder of Chatsight, says they have provided additional agnostic technology. The startup built the anti-scam AI-powered tech. Chatsight bridges it out to platforms like Discord and Telegram among others to provide safety tools for on-chain networks. Naughton said DAOs use third-party projects like Collab.Land to act as gatekeepers to their respective Discord servers. It verifies that members hold the DAOs token before gaining access. However, security remains an issue.
PeckShield, a security firm, tweeted an alert in May highlighting that scammers had exploited OpenSea’s Discord server to promote a scam NFT mint. Similarly, Bored Ape Yacht Club’s Discord server was compromised earlier this month. Scammers made off with 200 ETH – about $358,962 worth of NFTs. Following this incident, a BAYC co-founder lashed out at the Discord. He said the popular communications app isn’t working for Web3 communities.
Naughton outlined that Chatsight’s focus is on scams and phishing attacks, and not content moderation. He said everyone will agree that scams are bad. Naughton shared that Chatsight initially started off as an AI content moderation platform for social networks. It took off after he spoke with the Telegram group owner who was paying $5,000 to have people physically monitor the channel. Naughton noted that if the platforms are paying humans to do this, it means there’s a need that these platforms aren’t addressing. He explained that when such communities are built on platforms, they have to take security back into their hands.
Chatsight is working to act as a managed security partner – a quasi antivirus to give users a suite of tools to monitor their Discord servers.