Blockchain security auditor Hacken launches new tool to automate security and compliance for Web3 companies as MiCA and DORA rules emerge.
Hacken, an international blockchain auditor with Ukrainian roots, is introducing a new solution that will enable Web3 companies to comply with standards such as Europe’s MiCA and DORA in an automated way.
In a press release shared with crypto.news, Dyma Budorin, co-founder and CEO of Hacken, said that the company developed the so-called “Extractor” to address the “critical need for proactive monitoring and compliance in the crypto space.” According to the Tallinn-based company, Extractor provides a compliance monitoring framework for Web3 projects that facilitates compliance with regulatory standards such as MiCA, DORA and ADGM.
Unlike other solutions available on the market, Hacken’s solution is designed to combine AML/CFT monitoring, transaction tracking, aggregate value lock analysis and circulating supply detection in a structured compliance approach. It also integrates real-time threat detection, automated protections and post-incident reporting to ensure continuous protection and operational resilience, the release said.
Valentyna Kondratenko, Hacken’s legal counsel, noted that DORA’s requirements will “become enforceable” from January 17, 2025, adding that failure to comply “may result in severe penalties, such as fines of up to 2% of the global value Total annual sales”. or 1% of average daily global sales.”
It is understood that the solution is compatible with multiple blockchain networks including Ethereum and BNB…
