Wallet Guardian
Challenge
A large number of scams in the field of cryptocurrency, the desire to protect novice cardholders. Even the most popular and sought-after coin can turn out to be a scam to get money.
Scope of Work
- Version 1. In this version, the plugin was able to check the security of domains, search for token addresses in scam databases, check the token contract for signs of a honeypot, and analyze the contract code for bugs and vulnerabilities.
- Version 2. In this version, the project architecture became more complicated, experimenting with GraphQL to work with data and a list of security checks. The main innovation, on top of the existing version, was the ability to simulate transactions, which gave the following advantages: separate token contracts from contracts that exchangers and exchanges use to operate their systems; receive the results and details of the transaction before its actual execution, with which you can check the honesty of the operation and the amount of funds received; find out the full list of contracts with which the user interacts when performing an operation.
- Version 3. We started working on increasing the number of verification criteria. The following criteria have been added to the general list of checks that appeared in previous versions: the number of listings of the token on centralized and decentralized exchanges, with special attention paid to large and trusted platforms; number of token transactions; the number of senders and recipients of the token; the number and volume of pools on decentralized exchangers, liquidity assessment; The lifetime of the token contract from the date of its deployment.
- Version 4 (Current). We again worked on expanding the list of contract verifications, as well as on training and implementing an AI model for token verification based on the entire array of collected data. What verification criteria have been added: began to move towards the evaluation of historical information: they collected data on transactions and their activity for the first month of the existence of the contract; information on the number of liquidity providers in the pools; information about the creator and owner of the contract; whether the contract is a proxy; collection of historical data on the price of the token. How the security scoring of tokens has changed: The main logic for assessing and deriving the risk level was taken over by the trained and integrated model, which takes as input a complete list of all information about the token and returns the risk level of the contract in response.
Technologies and Tools
Results
What We Did
A plug-in for the Google Chrome browser has been developed that allows you to check the security of a token, as well as additional standalone API requests that can be integrated into third-party systems to check the security of cryptocurrencies.
Development prospects.
There are many ideas on how to extend and improve the functionality of the plugin. Ideas for implementation in the near future:
- Verification of NFT token contracts;
- The transition from collecting static data, for example, the number of transactions or holders at a point in time, to collecting historical data, that is, to evaluate not the indicators themselves, but how they change over time;
- Expansion of the list of checks;
- Increasing the number of wallets that the plugin can interact with, at the moment it's only MetaMask.
Related Cases
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