Newsletter #36

This week in Forta! A new machine learning model detects phishing scams with 88% precision. Team up with OpenAI ’s Code Interpreter to transform into your personal Forta data analyst. Earn $4,500 in FORT on Forta's Contract Positive Reputation Bounty. With the passing of FP-6, fees and rewards for developers on Forta are imminent. How to Blow Up a Scammer’s Business Model (with Forta).

A new machine learning model detects phishing scams with 88% precision. A new AI-driven bot was introduced to the Network in order to accurately detect phishing scams in blockchain transactions. The bot adapts to new scam tactics, minimizes losses by detecting scams efficiently, and ensures continuous monitoring while alerting users to suspicious activities. It employs the EasyEnsembleClassifier integrated with LightGBM classifiers to handle imbalanced datasets and better detect phishing scams. Through this advanced detection model, as detailed in the Forta blog, Forta Network aims to bolster security within the blockchain ecosystem.

Team up with OpenAI ’s Code Interpreter to transform into your personal Forta data analyst. Say you're dissecting a malicious campaign and its suspicious contracts or you need to assess your bot's well-being, OpenAI’s Code Interpreter makes threat intelligence and data analysis approachable to all. Every chart, every visualization is created from code that is open for you to examine and tweak, which gives you full control over your data interpretation process. What prompts will you try on Forta data?

Hey data scientists! Earn $4,500 in FORT on Forta's Contract Positive Reputation Bounty. Forta analyzes transactions and blocks in real-time to identify bad entities, like scammer addresses; but Forta can also be used to identify what is good. The positive reputation approach can be utilized in security relevant policies (e.g. show a green checkbox when interacting with a good entity or apply it as a false positive mitigation to a negative reputation approach). Want to work on this complementary approach? Apply here.

How to Blow Up a Scammer’s Business Model with Forta. Booming NFT marketplaces have attracted scammers who manipulate protocols to deceive users into selling their NFTs at extremely low prices. Forta's Scam Detector Bot is vigilant in recognizing such scams, but often the detection occurs post-transaction. To combat this, one of Forta’s newests bot can detect stolen NFTs and relay that information to the relevant parties. In order to systematize this mechanism, a collective front of users and NFT platforms are needed to integrate real-time threat intelligence and alert users, rendering the scammers’ business model unprofitable. Read more about the plan to blow up scammers’ business model in Forta’s latest blog.

With the passing of FP-6, rewards for developers and fees on Forta are imminent. Forta’s FP-6 has passed, clearing the way for fees on the Network. The passing of the proposal solidified two specific elements of the fees system: the pricing of Forta’s General Plan and the minimum requirements for the creation of any future Premium Plans. Via the approval of FP-5 and FP-6, the Forta Network is moving full steam ahead in the implementation of fees to close the Network’s cryptoeconomic loop and enable developers to earn recurring revenue from what they build on top of Forta. 

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