Lead in: Phalcon's Hack Blocking Saga

Since BlockSec's debut in 2021, we have long maintained that code auditing alone cannot solve all Web3 security issues. Therefore, we have been investing in exploring new paradigms for Web3 security. Thus we created Phalcon, the world's first crypto hack-blocking system.

Before the launch of Phalcon, the system had been running internally for 2 years, successfully blocking over 20 hacks, and rescuing more than 20 million USD worth of assets, including 3.8 million for Saddle Finance, 2.4 million for Platypus, 5 million for ParaSpace, and more.

In this series of articles, we will present representative stories of our system Phalcon. In sharing these cases, we aim to do more than validate the effectiveness of our system. We also want to demonstrate the transformative effect of proactive defense measures. In the face of threats, we are not powerless. Together, we can usher in a new era of Web3 security.

Breaking Down: A Comprehensive Overview

• Blocked HomeCoin Attack: Industry's First Successful Blocking Story

• Blocked Platypus Attack: Industry's First Counter-Exploitation of a Hacker's Contract

• Blocked TransitSwap Attack: Industry's First "Hacking Back" to Rescue $300,000

• Blocked Saddle Finance Attack: Industry's First Influential Blocking to Rescue $3,800,000

• Blocked Paraspace Attack: Industry's Most Important Block that Rescued $5,000,000

• Blocked Loot Attack: How Phalcon Saved $1.2M from Malicious Proposal

About Phalcon

Phalcon is a security platform developed by BlockSec to monitor and block hacks. The system detects suspicious transactions, instantly alerts users, and takes automated actions in response, helping protocols prevent or minimize losses.

Learn about Phalcon's use cases for protocols, L1/L2 Chains, LPs, traders, and exchanges at blocksec.com/phalcon.