As a founding collaborator of the Security Alliance (SEAL), Dedaub celebrates SEAL’s public debut, a significant milestone in crypto security. The alliance consists of more than 50 Web3 and cybersecurity organizations. Its goal is to strengthen the security of the cryptocurrency ecosystem. Before its public debut, SEAL connected users, developers, and experts and offered free Web3 simulation exercises.

SEAL’s dedication to setting high-security benchmarks within the crypto ecosystem aligns with our core capabilities. Dedaub is bringing to the table world-leading technologies and expertise in static and dynamic program analysis, reverse engineering, and ethical hacking. In the context of SEAL, we can contribute to developing more robust defense mechanisms against threats and ensure the blockchain ecosystem’s safety.

Dedaub supports the Whitehat Safe Harbor initiative and SEAL proactivity. This empowers ethical hackers to use cutting-edge tools like MEV bots to monitor and safeguard projects easily. The goal is to respond to challenges and incidents like the Nomad bridge hack.

Dedaub is proud to be part of SEAL, driving towards a more secure decentralized future.

Seal’s Public Debut | The security culture

By its very nature, the crypto market fosters a rigorous security culture. Its foundation on blockchain technology—a bastion of decentralized security—demands constant vigilance and innovation from its participants. It encourages the development of sophisticated security measures designed to protect against a wide range of threats.

Crypto security constantly changes and adapts to meet the challenges of advanced threats. Its strength relies on its community’sdge and expertise, including developers, researchers, and users, who work together to protect the infrastructure. Their collective efforts safeguard the system, embodying the core values that make Web3 a unique, resilient, and ever-growing reality.

Seal’s Public Debut | The security researchers’ playground

Crypto offers an exciting platform for security researchers, including those from web2 backgrounds, due to its complex challenges, high stakes, and the immediate impact of their work. This field merges theoretical knowledge with practical application, creating a rich environment for problem-solving.

Collaborating with SEAL through initiatives like SEAL Drills allows researchers to contribute while expanding their skill set significantly. These drills offer hands-on experience in real-world scenarios, enhancing their technical skills and understanding of blockchain intricacies. SEAL Drills prepare them to face formidable challenges and fosters a collaborative learning atmosphere with seasoned experts, making an ideal space for deploying and honing their security skills.

The collective and hands-on approach is crucial, especially when considering the advanced tools at our disposal, such as MEV bots, and the legal complexities surrounding their use.

Seal’s Public Debut | The Impact of MEV Bots under the Safe Harbor Agreement

The Whitehat Safe Harbor Agreement that SEAL promotes provides a legal framework for ethical hackers to conduct emergency rescues, primarily using MEV bots. This allows the community to monitor suspicious activities and take protection actions (when a protocol is under attack) without facing legal consequences.

The open and decentralized nature of cryptocurrency, which includes public code and lack of gatekeepers, makes it susceptible to hacking attempts. Therefore, it is important that security researchers are incentivized to protect it as much as attackers are motivated to steal funds.

In the past, many developers and security researchers were discouraged from assisting due to legal ambiguity with their employers. SEAL is promoting this initiative following its community members who regretted that more people would help if a legal framework existed.

Dedaub is committed to SEAL’s mission to protect decentralization and urges the community to join the cause.

About Security Alliance (SEAL)

Security Alliance (SEAL), established with the support of blockchain innovators, has quickly become a cornerstone in the advancement of Web3 security. This alliance represents a collaborative effort among premier experts, from audit firms to ethical hackers. It is dedicated to pushing the security boundaries in the Web3 space. As one of its founding members, Dedaub has been at the forefront of this initiative, driven by a mutual commitment to bolster Web3 security.

SEAL operates as a US 501(c)(3) nonprofit organization with the mission to protect the decentralized internet. Bringing together a diverse group of security experts—including auditors, bug bounty hunters, foundation security leaders, security researchers, and ethical hackers—marks a significant step in social coordination across different web3/crypto ecosystem sectors.

The alliance innovates with several key initiatives in the crypto ecosystem’s security framework. SEAL911 and SEAL Drills, for instance, are designed to provide immediate assistance and training against security threats, showcasing SEAL’s proactive approach to community support.

Additionally, the Safe Harbor Agreement for Whitehats, spearheaded by SEAL, emphasizes the alliance’s forward-thinking strategy to prepare for and mitigate future security threats. This agreement lays down a legal framework enabling ethical hackers to contribute to the crypto ecosystem’s security without fearing legal repercussions.

We invite the community to engage and provide feedback on the Whitehat Safe Harbor Agreement proposal hosted on Github. We welcome your insights until Pi Day, March 14, 2024.

At Dedaub, we have solid expertise in Smart Contract security, which allows us to contribute significantly to protecting the Web3 ecosystem, and we have recently achieved another milestone in our mission to establish trust and improve safety in the blockchain industry.

We are thrilled to announce the launch of the Dedaub TX Simulator Snap, a tool to transform how users engage with blockchain transactions.

What is the Dedaub TX Simulator Snap?

The Dedaub TX Simulator Snap is a cutting-edge tool that enables users to simulate transactions, evaluate the reliability and credibility of the accounts involved, and determine the financial consequences of their actions. Leveraging the extensive Smart Contract Database of Dedaub in real time, it provides users with up-to-date and comprehensive insights to make informed decisions.

How to Install Dedaub TX Simulator Snap

1. Add to MetaMask: Click the ‘Add to MetaMask‘ button.
2. Grant Permissions: The Snap will request the necessary access permissions during installation.

Frequently Asked Questions (FAQs)

HOW DOES THE DEDAUB TRANSACTION SIMULATOR WORK?

The Dedaub Transaction Simulator interfaces with Dedaub’s Smart Contract database, conducting real-time simulations of transactions that mirror the conditions of the specified network.

WHAT ARE THE KEY BENEFITS OF USING THE DEDAUB TX SIMULATOR?

• Cost Efficiency: Save on gas fees by avoiding reverted transactions.
• Informed Decision-making: Understand the financial implications of transactions before sending them on-chain.
• Detailed Analysis: Get a comprehensive overview of asset transfers, state changes, gas consumption, and more.

HOW DO YOU INSTALL AND USE THE DEDAUB TX SIMULATOR?

You can find the Dedaub snap at the official Metamask snap store.

WHAT DOES THE SIMULATOR NOT DO?

The Dedaub Transaction Simulator does not execute transactions on-chain. Instead, it simulates them based on the network’s current state. During the testing phase, it does not carry out any actual transactions.

WHAT NETWORKS DOES THE SIMULATOR SUPPORT?

The currently supported networks are Ethereum Mainnet, Arbitrum, Optimism, Fantom, Avalanche, and Base.

HOW DO I REACH OUT FOR SUPPORT?

For any support inquiries related to the Dedaub Transaction Simulator, please contact our support team at contact@dedaub.com or through our Discord Support Channel.

About Dedaub

Dedaub has a history of over 200 audits for leading Web3 protocols and successful white-hat hacking endeavors that have safeguarded billions in Total Value Locked (TVL). The Ethereum Foundation trusts our team. We integrate academic research with practical hacker experience to offer unparalleled security services. To learn more about our journey and services, please visit https://dedaub.com.

Web3 Monitoring continuously tracks blockchain activities, such as transactions and smart contract interactions, to identify anomalies, ensure security, and maintain operational transparency across decentralized networks. Web3 Monitoring empowers developers and organizations with real-time insights to safeguard their projects.

Why Blockchain Monitoring is Important

The need for security on the blockchain is ever-increasing, and the demands for innovative security solutions have also surged in recent years. The complexity of hacks and security breaches leaves no room for errors as the blockchain has shown to be unforgiving by design in punishing any possible lapses. In the last few years, attacks from private transaction pools have increased because attackers can bypass traditional defenses and exploit vulnerabilities without detection, limiting current security approaches and elucidating the need for more proactive measures. As codebases strengthen to counter these security risks, social engineering presents malicious actors with new ways to defraud people, hence the increased need for monitoring activity on the blockchain.

Web3 monitoring involves:

• Analyzing activities over a specific timeframe can deliver security insights regarding potential malicious actors.
• Establishing baselines of behavior and identifying anomalies based on user preferences and previous interactions.
• Real-time wallet and token activity notifications to identify significant transfers and other risk indicators.

The customizable blockchain monitoring solution provided by Dedaub to detect on-chain activities, establish periodic executions, and create a custom alert using an enhanced PostgreSQL database to give a consistent view of blockchain data and maintain high efficiency in on-chain real-time monitoring embodies all the qualities of a sound Web3 monitoring system.

Web3 Monitoring as a Post-Audit Best Practice

Relying solely on smart contract audits to protect against hacks and security breaches is now considered outdated. While audits reduce the likelihood of attacks, they do not guarantee a secure system in the long run. 

One important reason for this is that audits focus more on the codebase itself. Still, audits may only partially cover security issues arising from dependencies or the underlying blockchain architecture. In the blockchain environment, where threats are dynamic and evolving, new sophisticated attack vectors that may evade standard checks and vulnerabilities can occur, making a contract previously considered secure and vulnerable. 

Contrary to public opinion that hacks occur suddenly, most attacks come with indicative signals usually present before the attack. By monitoring these stages of potential attack flags and signs with real-time monitoring, we finally have a system to cover security gaps and bolster the results of adequately audited smart contracts.  Real-time monitoring of on-chain activity like transactions, multi-sig wallet operations, governance proposals, stacking, node infrastructure, and financial risks due to market manipulations to find out malicious incidents before they happen and prevent any breach that could have occurred in real-time can prove to solve about 98% of all security breaches.  Monitoring helps to give risk insights and provide real-time detection of risks based on blockchain and meme pool data, allowing for recovery actions before any compromise.

How Dedaub Enhances Real-time Blockchain Monitoring

Dedaub’s real-time smart contract monitoring reinforces post-audit safeguards by identifying suspicious activities and offering fully customizable multichain protection against threats and unforeseen behaviors across Ethereum and other EVM-compatible chains. 

The Dedaub Security Suite allows users to set up monitoring bots and queries to track on-chain activities and trigger custom actions through webhooks for free. It also flags unusual transactions and lets users stay alert to specific on-chain events with seamless cross-chain queries to ensure efficient monitoring. 

With the monitoring star rating system, query ratings are now possible, allowing users to share their experiences and contribute to an expanding library of insights to help new and existing users find the best tools to achieve their goals faster and enhance functionality. The enhanced monitoring editor makes the query writing process quicker and easier to understand. It also gives suggestions in queries, together with an advanced error reporting system, to identify any issues arising from variables. The ability to join on-chain data with off-chain metadata also gives an essential edge in real-time monitoring. 

Using multichain monitoring agents offers a network-agnostic solution that simplifies the process of tracking activity across multiple blockchains simultaneously. With the new cross-chain contract lists, managing data from various blockchain networks can be achieved through a single unified list. 

Moreover, the advanced RPC fetch functions allow users to incorporate data directly from external REST APIs into their monitoring queries framework, increasing the capability and accuracy of real-time monitoring. 

The latest version of Dedaub’s Security Suite introduces cutting-edge blockchain transaction monitoring features, including cross-chain capabilities, public function-based similarity, and an enhanced monitoring editor. These tools empower developers and organizations to maintain robust oversight with advanced security and efficiency. Learn more.