Forta and Eleos Labs Join Forces to End Theft of Digital Assets

Article by Forta Network May. 23, 2023

Forta is a real-time detection network for security monitoring of blockchain activity. The decentralized Forta Network scans all transactions and block-by-block state changes, leveraging machine learning to detect threats and anomalies on DeFi, NFTs, bridges, governance and other Web3 systems. When an issue is detected, alerts are sent to subscribers of potential risks, which enables them to take action.

The Forta Network, a leading provider in machine learning-powered threat detection, and Eleos Labs, the Web3 cybersecurity company specializing in enterprise-level protection against digital asset theft, have begun a collaboration aiming to elevate Web3 security by integrating Eleos Labs’ cutting-edge anti-theft software with Forta’s decentralized threat intelligence.

As the Web3 ecosystem grows, so do the potential risks associated with it. In response, Forta and Eleos Labs have joined forces to develop a comprehensive suite of security solutions to safeguard digital assets and ensure the safe, seamless operation of decentralized platforms. By combining their respective expertise, the two companies will enhance the security posture of Web3 enterprises, making them more resistant to potential threats and vulnerabilities.

In the coming months, Eleos Lab’s tools will be available to the public, sign up for the waitlist here.

Collaboration Highlights

Powering Anti-Theft Capabilities with Real-Time Threat Detection: This collaboration will result in the development of integrated security solutions that combine the strengths of Forta’s real-time threat monitoring and Eleos Labs’ theft intervention system.

Enhanced Incident Response and Real-Time Recovery: Forta and Eleos Labs will collaborate on detecting incidents and automating response plans and recovery procedures. This minimizes the impact of security breaches and helps organizations recover their digital assets swiftly.

Andy Beal, Ecosystem Lead at the Forta Foundation had this to say,  “We’re excited to join forces with Eleos Labs to build a more secure Web3 ecosystem. By leveraging our combined expertise, we’ll be able to provide comprehensive security solutions that protect digital assets and enable the growth of decentralized platforms.”

Ari Medvinsky, CTO of Eleos Labs said, “This partnership with Forta is an important step forward in our mission to strengthen the security standards for enterprises managing digital assets. With our enterprise-level security solutions and Forta’s robust blockchain intelligence tools, we will make significant strides in ensuring the safety and security of digital assets.”