In a move likened to creating a 24/7 monitoring system for crypto transactions, Harpie, a leading blockchain security company, today announced its Wallet Monitoring tool. Geared towards both enterprises and individuals, this tool offers real-time threat detection for crypto wallets, providing investors with enhanced security measures and peace of mind.
The Wallet Monitoring tool operates by continuously monitoring a wallet’s pending transaction pool and utilizes Harpie’s theft detection algorithm to build a risk profile for every Ethereum address or smart contract associated with the wallet.
The innovative algorithm considers factors such as past transaction history, usage patterns, and network activity, drawing from Harpie’s extensive database of over 2 million malicious addresses and 800,000 smart contract owners.
Investors using Harpie Wallet Monitoring can now receive instantaneous alerts regarding suspicious transactions and take immediate action to deny potentially malicious transfers before they are executed. This proactive approach empowers users to safeguard their custody of Ethereum-based assets, including currencies, non-fungible tokens (NFTs), and various other tokens.
Lauren Feld, GTM for Collective Works and a Harpie user, commended the company’s efforts, stating, “Harpie is doing for crypto what antivirus did for personal computers: creating a 24/7 monitoring system, this time for wallet transactions.”
Feld highlighted Harpie’s ability to translate complex risk assessments into actionable insights for everyday users and investors.
Additionally, Wallet Monitoring analyzes the user’s transaction history, allowing traders to verify their interactions and detect potential dealings with known cyber-criminals. The tool offers users a list of daily tasks to enhance wallet security, organized by threat level.
Daniel Chong, Co-Founder and CEO of Harpie, emphasized the diverse forms that malicious attacks can take, including those facilitated by smart contracts. Chong stated, “Wallet Monitoring helps you protect your tokens not just from future attacks but from smart contracts you may have already signed.”
Harpie mentioed that its flagship frontrunning tool has already proven its mettle, safeguarding assets exceeding $1 million and preventing crypto theft totaling over $2 million.
With the introduction of Wallet Monitoring, Harpie aims to fortify the crypto community against emerging threats, further establishing itself as a pioneer in blockchain security solutions.