Harpie, a blockchain security company offering advanced solutions for enterprises and individuals, announces a Wallet Monitoring tool that provides real-time threat detection for crypto wallets.
Using Harpie Wallet Monitoring, investors can receive real-time alerts about suspicious transactions, deny malicious transfers before they execute, and make sure custody of all Ethereum-based assets, including currency, NFTs and other tokens, is completely secure.
Wallet Monitoring works by continuously monitoring a wallet’s pending transaction pool. Using Harpie’s theft detection algorithm, this tool builds a risk profile for every Ethereum address or smart contract a wallet touches. Harpie examines each address’s past transaction history, usage patterns, and network activity to look for signs of suspicious activity, drawing on Harpie’s ever-growing index of over 2 million malicious addresses and 800,000 smart contract owners. Whenever Wallet Monitoring detects a suspicious transaction, the user receives a notification in plain English explaining why the activity was flagged and giving users the opportunity to approve or stop the pending transaction.
“Harpie is doing for crypto what antivirus did for personal computers: creating a 24/7 monitoring system, this time for wallet transactions,” says Harpie user Lauren Feld, GTM for Collective Works. “Harpie has managed to turn complex risk assessment into actionable insights for the everyday user and investor.”
Wallet Monitoring also analyzes the user’s own transaction history, so traders can make sure they know who they have been dealing with. The tool will issue a notification if it detects a user has traded with a known cyber-criminal. Wallet Monitoring also generates a list of daily tasks the user can complete to improve their wallet security, organized by threat level.
“Not all malicious attacks take the form of a single, sudden drain,” says Daniel Chong, Co-Founder and CEO of Harpie. “Some smart contracts give scammers permission to wipe out your tokens instantly, while others create a back door, allowing them to siphon away your assets over time. Wallet Monitoring helps you protect your tokens not just from future attacks but from smart contracts you may have already signed.“