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EVM smart contract platform Flare has signed a new partnership with Hypernative, a provider of proactive Web3 security solutions, to improve the security of its ecosystem.
Hypernative launches a security platform capable of identifying vulnerabilities and potential exploits across the Web3 spectrum, including assets, protocols and applications. So far, the platform says it has discovered over 270 exploits that could have resulted in damage of almost $14 billion.
Investing.com believes Hypernative's technology will provide Flare's users, decentralized applications (dApps) and institutions protection from impending cyber threats, including zero-day attacks.
Web3 attacks are becoming increasingly sophisticated, and attackers worldwide are using more and more exploitation methods. In response, Hypernative says it has developed technology capable of detecting potential Web3 exploits well in advance, providing a proactive approach to security. As a result, its offering is trusted by some of the largest Web3 ecosystems and manages a total of $37 billion in assets.
The company's solution is designed for continuous monitoring of on-chain and off-chain activities to prevent risks and attacks. With over 764,000 identified risks across 1,443 monitored logs, Hypernative delivers critical insights and actionable intelligence to minimize false positives without missing threats.
Hugo Philion, co-founder of Flare and CEO of Flare Labs, commented: “Flare was built with anchored oracles to support high transaction value use cases, including DeFi and AI.
Hypernative's monitoring for Flare will help provide applications and their users with an additional layer of defense against potential exploits. Our goal is to provide the highest possible level of security so that institutions, builders and community members have the confidence to interact with decentralized applications on the network.”
Flare is known for its Virtual Machine (EVM) compatible smart contract platform that enables decentralized data collection. It provides developers with secure and affordable access to rich data sets to improve the functionality of Solidity-coded applications.
Gal Sagie, co-founder and CEO of Hypernative, emphasized the need for a new security standard in Web3 that goes beyond traditional audits and bounties. “The realization is dawning that Web3 needs a new security standard that goes beyond audits and bounties. It is truly encouraging to see leading protocols like Flare taking a global approach to security and implementing active strategies that protect their entire ecosystem,” he added.
As the complexity of Web3 smart contracts continues to increase, the need for sophisticated security solutions also increases. Hypernative's track record and battle-tested tools will play a critical role in protecting Flare's 290+ projects, providing real-time, proactive protection against advanced cyber threats. Flare projects gain access to Hypernative's platform to configure alerts, monitor security operations, and receive support in the event of attacks.
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