Web3 projects seek extra protection to mitigate the risks of smart contract exploits. To date, the DeFi sector has lost $5 billion to hacks.
Sometimes, projects don’t realize they are hacked. The scariest hack is the one you don’t see. In 2022, Ronin Network lost $624M. The worst part is nobody at Ronin noticed the hack for six days. Think about it for a second. The biggest hack of all time stayed under the radar for almost a week. Ronin had a limited validator set and a surreal lack of awareness.
You need ongoing monitoring to stop exploit execution before it’s too late. We are seeing the rise of smart contract monitoring tools – cybersecurity solutions that notice, detect, and prevent exploits after the contract has been deployed to the blockchain.
You cannot respond to the attack if you cannot see it. To that end, we created Hacken Extractor – an on-chain smart contract monitoring system. Today, we launch a public beta and invite all Web3 projects interested in security to join.
What is smart contract monitoring?
Smart contract monitoring is a post-deployment Web3 security system that tracks smart contracts’ status and activity. This includes real-time monitoring of code execution, transactions, interactions with blocked addresses, contract upgrades, and ownership.
Its purpose is to provide security after you deploy a smart contract to the blockchain.
I am confident that ongoing security monitoring and analytics are the future of post-audit cybersecurity. Hacken Extractor is our powerful on-chain smart contract security monitoring tool that brings incident response to a new level.
Yevheniia Broshevan, Co-Founder and CBDO
Audit vs. Monitoring
Smart contract audit is the most robust security solution for the development phase and contract upgrades. The audit helps create a decentralized app without code vulnerabilities and performance errors.
Once a contract is deployed to the blockchain, you need a different tool to stay secure. Ongoing monitoring systems give you control over security in the post-deployment phase.
Who requires Smart Contract Monitoring?
Any decentralized application would benefit from on-chain monitoring, especially projects with dozens or hundreds of contracts in their codebase.
Web3 projects in DeFi, gaming, voting, ID, infrastructure, and NFT all use smart contracts to automate state transitions and govern transfers. Live monitoring will increase the safety and reliability of these functions.
Hacken Extractor is an on-chain smart contract monitoring system aiming to provide you with the following functionality:
Detect threats and anomalies. You’ll get an alert when Extractor detects attack signs or other suspicious activity.
React to sudden liquidity drops. Be confident that sudden drops in your project’s liquidity don’t happen right now.
Control contract ownership. Get warned of any unauthorized project ownership change.
The beta program already monitors and alerts the following events: ownership transfers, contract upgrades, exceeding transaction thresholds, and interaction with blocked/allowed addresses. You can configure an unlimited number of event triggers and set alert preferences based on severity. This year, more functionality will make Extractor the most powerful solution for post-deployment security.
Hacken Extractor supports most blockchains and has no trigger limits.
Hacken Extractor takes your smart contract security to the next level, but that’s just the beginning. We envision turning active monitoring into a massive SaaS product for the B2B segment that integrates with the HAI ecosystem.
Hacken Extractor Public Beta
Start monitoring your smart contracts with Hacken Extractor by joining the public beta program.
We stand at the very beginning of the story of Extractor. Web3 projects interested in more control in the post-deployment phase can be among the first adopters, impact product development, and communicate your expectations with Hacken developers.
We have prepared a special offer for early adopters. As part of the beta program, you will get
Free access to Hacken Extractor and new releases for six months
Rewards for active engagement in the beta program
Extensive feedback sessions and direct communication with Extractor team
Priority access to the newest features
As always, we have special offers for HAI Partners and Web3 players who want to get the most out of the HAI ecosystem expansion. After a free 6-month trial, all clients paying in HAI will enjoy a 20% discount, while HAI partners will get an additional 10% discount, paying with HAI or USDT. Learn more about HAI-based subscriptions.
Hacken Extractor is an on-chain smart contract monitoring system from a leading Web3 security company.
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