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By Extractor - Soroban Security
Extractor is a Post Deployment security solution that provides multi-level asset protection in smart contracts against exploit
Extractor is a Post Deployment security solution that provides multi-level asset protection (smart contract, transaction monitoring and security tool) against on-chain attacks and vulnerabilities exploits. There is a fact of inherent low security of smart contract products on permissionless blockchains. In 2022 about $1 billion was spent on smart contracts security (development toolchain, processes, audits), yet $3.8 billion was lost due to attacks and vulnerabilities. Large percentage of attacks don’t happen in a single transaction but often executed over multiple steps. These steps manifest distinctive suspicious behavior within a relatively long time window. Extractor identifies and tracks multiple attack vectors and quickly notifies Contract owners of imminent or on-going attack with a capability to automatically prevent a loss with automatic contract circuit breaking or pausing. Our primary clients are crypto-native startups and established projects who want to protect their products. There are multiple cases where a single attack drained majority of the funds and effectively bankrupted the project. Extractor works by streaming blockchains activity (transactions, events) in near real-time to a trigger engine. Triggers represent a logic to detect suspicious activity. Trigger can be either something simple like unusually large fund transfer from Contract or complex scenarios involving accounts funded from Mixers and deploying suspicious attacking contracts in a multistep decision tree model. Trigger are either configured by experts (either Extractor team or client engineering team) or Extractor provides a set of preconfigured attack detectors which work automatically for new clients. Extractor's mission is to make Web3 a safer place and not only EVM ecosystem. By integrating our product with Stellar/Soroban all products utilizing Soroban smart contracts would be able to use post-deployment security monitoring and protection.
$50.0K
Andriy Kashcheyev
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