Radar for Security Risks

FailSafe's Radar is a solution that advises users on the risk of transacting counterparties (other wallets/smart contracts) to reduce risk for all Web3 users and services. It is a suite of well-formed APIs that returns a risk score when given a wallet address as input. The risk score is based on the counterparty’s Web3 activity history.

Benefits:

Safeguarding Employees and Internal Processes:

Because Radar is able to assess a counterparty's risk score, transactions can be grouped into different risk categories with different approval policies. Low risk transactions can be approved at a junior employee level while high risk transactions can be routed through a maker-checker approval process. Although the approval policies may differ from company to company, the risk ratings provided by Radar ensure that the organisation has sufficient information to ensure that its assets are protected.

Safeguarding Consumers:

If Radar is integrated into a consumer-facing platform, an organisation will have the ability to scan transactions that occur on its platform. With sufficient knowledge of transaction risk ratings, appropriate policies can be set to either block high risk transactions outright, or alert a user if a particular transaction poses a significant risk. Such policies may be customised according to each organisation's needs.

Radar's categorisation of risk ratings may be customised according to an enterprises's risks. For example, a financial institution that manages large sums of client money may impose more stringent risk ratings and approval policies compared to a small or medium enterprise engaged in ecommerce.

Suite of solutions:

• Wallet Security Strength Checker

• Transaction Detection and Notification