Decentralized finance protocols keep losing the security fight – and hundreds of millions of dollars in crypto – to hackers and thieves. Israeli startup Ironblocks is looking to change that.
On Wednesday, Ironblocks began rolling out a security product that CEO Or Dadosh says could help smart contract-based financial programs get ahead of the damage. It’s a threat detection platform, and it plugs into DeFi protocols in order to monitor and flag any asset transfer that looks fishy – or worse.
“We are looking for economic anomalies in the transaction itself,” Dadosh told CoinDesk in an interview at ETHDenver. The launch comes as DeFi protocols continue to take a shellacking from savvy hackers who steal millions of dollars by pulling their economic levels in unanticipated ways. Just this week, an unknown exploiter