New crypto compliance and risk management tech analyzes over 2 billion wallets’ data

On Sep 13, 2023

CertiK, a firm specializing in blockchain and smart contract security, has announced the release of a new SkyInsights tool to address the growing needs related to crypto compliance and risk management in the Web3 industry.

The platform, SkyInsights, utilizes CertiK’s extensive databases to provide enriched risk insights, involving more than two billion wallet addresses and smart contract labels across over 150 diverse categories. These data points are intended to allow businesses with digital asset exposure an enhanced view of transaction and counterparty risks.

As part of CertiK’s services, SkyInsights offers wallet screening capabilities and intends to provide a more detailed understanding of transactions. Furthermore, SkyInsights integrates with CertiK’s existing security services, reflecting the company’s strategy around comprehensive security. The platform aims to provide insights into all layers of the Web3 stack, from smart contracts to wallet addresses and transactions.

SkyInsights also features transaction monitoring software to flag potential issues and provide remediation insights. The platform’s alerts are based on CertiK’s security incident monitoring and real-time database updates.

Cryptocurrency trading platform BitMart is set to be the first adopter of SkyInsights, aiming to utilize the platform’s risk and compliance management system. BitMart and CertiK have also expressed plans to explore technological advancements for Freeze Asset Requests, data labeling standards, and information exchange processes.

Since 2022, CertiK has reportedly detected over 1,100 security incidents involving a total loss of $4.8 billion. The company’s suite of security products has been monitoring over two billion wallets and smart contract addresses and has assessed security trends for nearly 12,000 projects.

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