- Stellar has partnered with Hypernative to improve its network security and protect against hacks.
- Projects building on Stellar will benefit from real-time monitoring, risk management, and incident response tools.
Stellar, a blockchain designed for global financial services, has partnered with Hypernative to enhance security across its network. Through integration of Hypernative’s real-time threat detection and response platform, Stellar will be in a position to protect its ecosystem from potential hacks and other security risks.
.@StellarOrg switches on ecosystem-wide protection from hacks with Hypernative!
Projects on Stellar will get:
✅ Security monitoring
✅ Compliance
✅ Threat intelligence
✅ Financial & market risks
✅ Operational risks
✅ Governance risks
✅ Phishing, scams and fraud pic.twitter.com/RSxrv8FOIF
— HypernativeLabs (@HypernativeLabs) September 10, 2024
The Stellar network, which offers fast, scalable, and cheap solutions for transactions, has been enhanced by Hypernative’s security tools. These tools offer full coverage for projects on the Stellar network to prevent factors such as phishing, fraud, and market manipulation. This integration allows Stellar’s developers to concentrate on development while Hypernative provides a swift response to events the analysis of the causes, and may even help in restoring lost funds.
Hypernative’s platform offers protection, legal requirements, and threat information to address financial, operational, and governance risks. The real-time threat detection has also been extended to cover bridges, smart contracts, wallets, and token allocations, thus showing Stellar’s dedication to ensuring that its users are safe.
Stellar Projects Benefit from Improved Security Monitoring and Support
The projects on the Stellar network can now integrate with Hypernative’s platform, with improved security monitoring and prevention features. This partnership also enhances the configuration and management of security flows, thereby making the Stellar ecosystem a safer space as it continues to expand.
Hypernative’s support covers many areas of incident handling, which can be useful for preventing financial losses and business interruptions of projects. As a result of the integration with Hypernative’s monitoring and risk assessment tools, Stellar remains committed to its mission of offering decentralized, secure, and inclusive financial services worldwide.
The performance of Hypernative is enough to prove the effectiveness of the company. In 2023, the platform was able to detect 99. 5% of the hacks with a false positive rate of less than 0. 001%. Threats were detected more than two minutes prior to an actual malicious activity, which could have potentially led to over $200 million in losses. Hypernative currently supports over 40 blockchain networks and has over $37 billion worth of assets under its watch.
Hypernative Secures Significant Funding
Stellar joins a long list of leading Web3 projects relying on Hypernative’s security solutions, including notable names like Uniswap, Solana, and Chainlink. The partnership strengthens Stellar’s reputation as a secure and reliable blockchain for real-world financial use cases.
Recently, Hypernative has raised $16 million in a Series A funding round. This round was led by Quantstamp, and other investors involved in the round included Bloccelerate VC, Boldstart Ventures, Borderless Capital, CMT Digital, IBI Tech Fund, and Re7 Capital. This funding has increased the total capital secured by Hypernative to $27 million.
According to the report, With the new funding, Hypernative aims to scale up its activities in the Asia-Pacific and the U. S., as well as strengthen its team of 30 with new employees in R&D, customer support, and sales and marketing. Hypernative claims that its solution has prevented more than $100 million in losses as of this writing.
