Flare has announced the onboarding of Hypernative, a leading figure in proactive institutional-grade Web3 security. This initiative aims to offer robust protection to Flare ecosystem participants against zero-day cyber attacks, emerging risks to digital assets, protocol/dApp vulnerabilities, and evolving threats to Web3 users.
Web3 attacks are evolving in complexity and originating from a wider array of exploit vectors. As the Web3 industry expands, it becomes a lucrative target for malicious actors worldwide. By joining forces with a renowned Web3 security expert like Hypernative, Flare is bolstering safety measures for all users, dApps, and institutions within its ecosystem.
Hypernative’s Cutting-Edge Security Solutions
Hypernative has developed advanced technology designed to outpace Web3 exploits by continuously identifying vulnerabilities across assets, protocols, and applications. As of now, the platform has successfully detected over 270 potential exploits, which could have led to damages amounting to $14 billion. Hypernative’s expertise extends to overseeing Web3 ecosystems worth a total of $37 billion.
In addition, Hypernative’s architecture is distinct within the Web3 space, offering “always-on” monitoring across various activities, including on-chain, governance, financial, and security-related actions. This proactive approach enables the detection of risks and attacks before they can cause significant harm, allowing clients to intervene and mitigate potential losses.
Hypernative has detected over 764,000 risks across 1,443 constantly monitored protocols. To manage this high volume, the platform prioritizes critical insights, alerts, and recommended actions to prevent false positives without compromising detection accuracy. The system seamlessly integrates across all Web3 platforms, providing API data, alerts, and customizable options. This level of security is particularly crucial for Web3 institutional groups engaged in high-volume financial activities, such as DeFi, which are prime targets for cyberattacks.
Hugo Philion, Co-founder of Flare & CEO of Flare Labs, expressed his enthusiasm about the partnership, stating, “Flare has been architected with enshrined oracles to support high transaction value use cases, including DeFi and AI. Hypernative’s monitoring on Flare will help provide applications and their users with an additional layer of defense against potential exploits. Our aim is to provide the highest level of security possible, so institutions, builders and community members have the confidence to engage with decentralized applications on the network.”
Flare’s Commitment to Enhanced Security
Flare is an EVM smart contract platform optimized for decentralized data acquisition. With integrated oracles secured at the network layer, Flare offers developers secure and cost-effective access to a wide range of price and state data for their dApps. As an EVM-based platform, it supports the launch and operation of Solidity-coded applications.
As Web3 smart contracts become increasingly complex, the tools developed by Hypernative are not only industrial-strength but also battle-tested. With a proven track record of safeguarding some of the blockchain’s most advanced platforms, Hypernative will play a crucial role in protecting the 290+ projects built on Flare with real-time, proactive warnings designed to mitigate potential damage from sophisticated attacks.
Gal Sagie, co-founder and CEO of Hypernative, emphasized the need for a new security standard in the Web3 space. “There is a dawning realization that web3 needs a new security standard that goes beyond audits and bounties. It’s really encouraging to see leading protocols like Flare take a global approach to security and implement active strategies that protect their entire ecosystem,” Sagie said.
Flare projects will benefit from access to the Hypernative platform, assistance in setting up alert configurations, monitoring and prevention flows, and immediate support in the event of an attack. Hypernative’s platform utilizes proprietary machine learning models to predict and prevent cyber, economic, and governance threats in real-time, ensuring the safety and security of digital assets, protocols, and Web3 applications.
With this collaboration, Flare and Hypernative are setting a new standard for Web3 security, combining advanced technology, proactive monitoring, and actionable insights to safeguard the Flare ecosystem against emerging cyber threats. As Web3 continues to evolve, partnerships like this will be crucial in ensuring the integrity, security, and resilience of decentralized applications and platforms.
