Skylock provides a security protocol that detects and intercepts malicious smart contract transactions in decentralized finance (DeFi) environments. By front-running attacks and securing exfiltrated funds, Skylock minimizes financial losses for protocols without requiring privileged access to their technology.
Funding
$1.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Decentralized Finance (DeFi) protocols are vulnerable to exploits and malicious transactions that can result in significant financial losses. Current security measures often require privileged access or are unable to effectively intercept attacks in real-time.
Solution
Skylock provides a security protocol designed to detect and intercept malicious smart contract transactions targeting DeFi protocols. By monitoring the blockchain, Skylock identifies potentially harmful transactions and front-runs the attack to drain vulnerable funds, minimizing the damage caused by exploits. The exfiltrated funds are then secured in a safe harbor wallet, protecting them until they can be returned to their rightful owners. Skylock operates without requiring privileged access to the protected protocol's technology.
Target Audience
Skylock's primary customers are DeFi protocols seeking to protect their assets from on-chain exploits and malicious transactions.
Features
- Real-time monitoring of blockchain transactions to detect malicious activity.
- Front-running capabilities to intercept and drain funds from vulnerable smart contracts.
- Secure "safe harbor" wallet for protecting exfiltrated funds.
- Detection of 80% of malicious transactions before they execute.
- Successful front-running of up to 40% of all technical vulnerability exploits.
- Bounty-based revenue model, charging only on recovered funds.