2021’s hottest new tech term, according to TechCrunch, was “definitely Web3”. Web3, as its name suggests, is considered by many as the future of the internet: decentralized, permissionless, and based on modern blockchain technology. While Web3 might have a bright future, it’s in the middle of growing pains: A number of Web3 apps were hacked in 2021, leading to theft of cryptoassets valued at hundreds of millions of US Dollars. In this talk we will present Web3 app technology, dissect new attack surfaces, and suggest new and exciting defense mechanisms. First, we will dive into the technical details of Web3 applications, showing how Web3 technology opens new attack surfaces by moving app functionality onto the blockchain. We will then analyze these newly-exposed attack surfaces by reviewing a few examples we’ve discovered “in the wild.” While Web3 exposes new attack surfaces, it also provides novel detection opportunities. Specifically, the public and transparent nature of the blockchain allows security researchers to immediately explore full details of any attack and, as a result, leads to quick and thorough discoveries. This is a paradigm shift in security research, as current practices only allow a few to learn actual attack details, only some portions of which are shared publicly. This shift in transparency allowed us to independently explore the aforementioned attacks. Furthermore, we believe we can do even better and go beyond rapid post-mortem reports. We will show how the same raw data we had previously used for a post-mortem analysis can be analyzed in real-time (or even ante factum by “taking a peek” into the blocks that have yet to be mined) to detect and even prevent attacks. This capability is enabled by the online nature of the blockchain and its inherent block time delays. In fact, we can import, with relevant modifications, many of the principles and learnings of current web defenses, including Web Application Firewall (WAF) into the realm of blockchain. By doing so, we introduce a scheme for a Web3 Application Firewall (W3AF) which can greatly improve Web3 security and blockchain-based apps.