Newsletter #48

This week in Forta! Telcoin’s multi-million dollar exploit detected in advance by Forta. Forta’s 2023 in review. 24/7 automated incident response is here. Alterscope (formerly Solity) is partnering with Forta to protect their users.

Telcoin’s multi-million dollar exploit detected in advance by Forta. On December 25th, Telcoin ($TEL) plummeted in value due to an exploit that was detected early by Forta, culminating in a preventable loss of ~$1.3M. Two minutes after the first exploit was deployed, Forta’s Attack Detector flagged the exploiter. After discovering indications of an attack in the funding, preparation, and exploitation phases. As Forta detected the attack before the second exploit where the majority of funds were drained, the hack could have been mostly averted if Telcoin had implemented an automated incident response workflow powered by Forta.

Forta’s 2023 in review. With billions of dollars in hacks and hundreds of thousands of scams, 2023 has been tough. But it hasn’t all been bad news! The Forta community has rallied around improving detection techniques, building ML-based detection models, and taking the fight to hackers to the next level. Read the retrospective to get a high-level read on what the leading decentralized monitoring network was up to in 2023.

24/7 automated incident response is here. Thanks to advances in precision and recall of Forta’s Attack Detector, developed in partnership with BlockSec and Nethermind, the holy grail of incident response is now possible. In Forta’s latest blog, protocols can follow a simple guide to connect Forta threat intelligence into OpenZeppelin’s Defender and enable a function automatic pause mechanism powered by Forta’s Attack Detector.

Alterscope (formerly Solity) is partnering with Forta to protect their users. Alterscope (formerly Solity) is now collaborating with Forta to bring advanced threat intelligence to their users. By leveraging Forta’s alerts to enhance Alterscope’s real-time risk infrastructure, their clients are able to develop more comprehensive and interconnected risk frameworks.

Forta Around the Web

- See how OpenZeppelin and Seal911 use Forta in war game drills
- Forta’s Christian Seifert explores the intersection of ML and Web3 on the AI Curious podcast
- ITBrew digs into the challenge of Web3 scams with Forta