August 08, 2022
Beosin EagleEye, the "Magnifying Glass" of Web 3.0 Security
With airdrops flying all over and free mint offers occurring daily, Web3.0 newbies are constantly faced with temptations and scam risks. Complex blockchain projects such as DeFi and cross-chain bridges are becoming the most vulnerable targets for hackers. They often exploit vulnerabilities in smart contracts to steal tens of millions of crypto assets from these seemingly secure projects.
As a result, a solution that can protect Web3.0 has become much more important for project owners and investors.
Today, Beosin officially announced the launch of EagleEye, a new generation of Web3.0 Security Assessment and Monitoring services.
Why Is Beosin EagleEye a "Magnifying Glass" for Web 3.0 Security?
By analyzing real-time on-chain and off-chain security information, EagleEye provides comprehensive project security status assessment, detects smart contract vulnerabilities, and identifies risk and abnormal transactions in real-time. It can alert users to potential risks such as large-value transfers, flash loans, privileged operations, rug pulls, and slippage. Web3.0 projects can use it as a tool for 24 by 7 security monitoring and service alerts to prevent hacking, fraud, and rug pull risks. EagleEye, like a magnifying glass, makes it easier to discover the various security risks associated with Web 3.0 projects.
Six Primary Features Provide Complete and Indiscriminate Protection
(1) Project Security Browser Feature - overlooking projects’ security information from a bird’s eye view
The Beosin EagleEye project browser lists over 2,300 monitored projects with the market value of each project, and the supported chain platforms, covering ETH, BSC, HECO, and POLYGON. Users can search and explore the up-to-date security status of every Web3.0 project, discover the hottest projects with the highest market cap, learn the latest security news and alerts, and find recently added projects.
Scrolling down, users can see a complete list of monitored projects. The right side of the table shows the newly added projects.
(2) Project Security Posture Feature - a Web3.0 security "reconnaissance tool."
The project security posture feature is a Web3.0 security "reconnaissance tool." The tool monitors the security of the project's on-chain and off-chain data, including price, market value, number of users, transaction volume, token holdings, liquidity, etc., through the security modeling and analysis of the data. It also notifies the user whether the project security is in good status.
Leveraging Big Data and AI, EagleEye assesses each project daily with a security score based on 5-dimensions of on-chain and off-chain data, including the project’s security audit results, risk transactions frequency and severity, decentralization, governance and transparency, and market volatility.
For example, the "Decentralization" section shows project whales (users who hold a large percentage of project assets) and their holdings, an important dimension when assessing project governance. It also presents the project's liquidity held in its smart contract.
Users can also see market fluctuation data and basic project information from its official website, social media, etc.
(3) Risk Transaction Feature - Security protection through monitoring and alert service
The platform analyzes every transaction on the chain in real-time and lists risk transactions with their corresponding risk levels. It can identify threats such as flash loans, large outflows, privileged operations, etc.
The flash loan exploit is one type of threat monitored by the platform. A flash loan is an unsecured loan unique to the DeFi space. Attackers use this feature to borrow large sums of money, manipulate the asset price, and exploit the flash loan protocol vulnerabilities for their gain. While not every flash loan will accompany an attack, abnormal transactions in the flash loan require attention.
Changes in management authority and large asset outflows are other threats that need much attention. Large capital outflows may cause the fluctuation of crypto asset prices, while changes in management authority may lead to changes in contract management and authorization. Significant crypto price slippage in a short period may signal potential risk. The risk transaction detail page shows the alert type and transaction address details.
(4) Security News Feature - Breaking through the information barrier
From the security news section, users can easily and quickly learn security-related information and real-time security events from mainstream blockchain media such as Coindesk, CoinTelegraph, NewsBTC, etc., and social media such as Twitter from a single place. Using the latest AI-based Natural Language Processing technology, EagleEye gathers a large amount of information from the trusted sources above and analyzes it to break through the information barrier.
(5) Address Monitoring Feature - With nearly 200 million labeled addresses to break the black address barrier
EagleEye has labeled addresses linking DeFi, cross-chain bridge, NFT, or exchange hacking attacks. Any addresses used by the Hackers in those attacks will be added to the EagleEye database and monitored in real-time. Addresses linked to money laundering events will also be automatically added to the system for monitoring. Up to now, EagleEye has nearly 200 million labeled addresses covering major crypto exchanges worldwide. Once triggered by a hacking event, the platform can immediately provide crypto hacking victims with crucial information such as transaction hashes and relevant addresses.
(6) Beosin Alert Browser Extension - A sword to malicious websites
In the Web3.0 world, phishing attacks are rising through Twitter, Discord, website forgery, etc. Usually, it is achieved through social engineering to make it more persuasive and realistic utilizing methods such as spoofing, online chat, baiting, and sympathy.
To help our users avoid phishing attacks, Beosin has released the Beosin Alert browser extension to identify malicious websites. More than a thousand identified black addresses have been labeled in the system. The Beosin Alert can help users identify whether the website is safe. It can identify and notify the users of a malicious website associated with phishing, fraud, and other attacks in real-time to protect users’ private keys or digital assets from theft.
Download and install the Beosin Alert extension from the link below: https://chrome.google.com/webstore/detail/beosin-alert/lgbhcpagiobjacpmcgckfgodjeogceji/related?hl
Utilizing Quantitative Analysis to Break the Barrier and Build a Security "Moat" for the Web3 Ecosystem.
EagleEye can provide refined quantitative breakthroughs and build a security "moat" for the Web3 ecosystem:
(1) EagleEye performs comprehensive on-chain data analysis to identify transaction risks and notify users, all in real-time.
(2) EagleEye identifies abnormal transactions by analyzing the historical transaction behavior of each address involved in the transaction and comparing it to both abnormal and normal transactions. Unsupervised AI machine learning models using different feature engineering methods adaptively assess abnormal transaction behaviors and effectively identify abnormal transactions in real-time, like a “Risk-revealing Mirror.”
(3) EagleEye helps users avoid project risks associated with flash loans, large outflows, privileged operations, and slippage through comprehensive risk types and multi-dimensional risk analysis, identification, and notification.
(4) EagleEye provides an overall project security assessment through the project's security audit results, degree of decentralization, governance and transparency, market volatility, and real-time risk transactions dimensions.
Finally, as the leading company in Web3.0 blockchain security, Beosin has committed to establishing a healthy and secure blockchain ecosystem through our products and services. Our mission is to provide the most powerful tools for the prosperity of the Web3.0 ecosystem.
Whether you are a Web3.0 project owner or investor, when you try EagleEye, you may discover even more uses and advantages over existing security products and services. The primary product is free to use; please click on the link to discover more on our website: https://eagleeye.beosin.com
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