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Harpie, Fueled by Coinbase Ventures, Battles Record $3.8B Crypto Theft: Rapid Scans and Big Data Defense

CryptoHarpie, Fueled by Coinbase Ventures, Battles Record $3.8B Crypto Theft: Rapid Scans and Big Data Defense

Crypto theft reached a record $3.8 billion last year, mainly in decentralized finance. Harpie, backed by Coinbase Ventures and Dragonfly Capital, addresses this by scanning transactions for phishing, cybercrime, or theft. CEO Daniel Chong explains that Harpie’s engine reviews each transaction in 300 milliseconds, holding suspicious ones before blockchain submission. The system uses a million whitelisted and blacklisted addresses, employing big data models to detect abnormal behavior. Chong advises diversifying assets across platforms for security, emphasizing the need for backup plans and cautioning against concentrating assets with a few individuals. He suggests balancing spending on auditing and operational security to prevent catastrophic losses.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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