Dec 21, 2022 Frank Stewskid
Harpie, a project aiming to end on-chain thefts by monitoring its users’ pending transactions for potential attacks and mitigating them when such are found, shared how it helped protect one of its user’s assets, whose private key was stolen.
🧵 1/7— Harpie (@harpieio) December 20, 2022
This is the first on-chain crime drama where the good guys finally win.
Here's a thread on how Harpie stopped a private key theft for one of our users.
According to the Twitter thread, by the time the user found out their private key is compromised and funds are at risk, and just as the attacker tried to move them, Harpie intervened and managed to safely transfer the endangered assets into a noncustodial vault. This was possible as Harpie requires its users to give it permission to intervene if it spots a potential theft from their wallet.
Once the malicious transaction attempt was noticed, Harpie paid a higher gas fee and managed to essentially front-run the attacker. The user’s funds were moved to a smart contract where they were later able to withdraw them to a new safe wallet address of their choice.
Since its launch, on February 14, 2022, Harpie has managed to save $700,000 worth of crypto assets belonging to its users from potential thefts, according to the project.