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Blockchain security auditor Hacken is rolling out a new tool to automate security and compliance for web3 companies as MiCA and DORA rules approach.
Hacken, an international auditor of blockchain technology Ukrainian Root is rolling out a new solution that allows web3 companies to automatically comply with standards such as the European one Mika And Dora.
In a press release shared with crypto.news, Hacken co-founder and CEO Dima Budorin said the company developed the so-called “Extractor” to address “the critical need for proactive monitoring and compliance in the cryptocurrency space.” According to the Tallinn-headquartered company, Extractor provides a compliance monitoring framework for web3 projects, making it easier to meet regulatory standards such as MiCA, DORA and ADGM.
Unlike other solutions available in the market, Hacken’s solution is said to combine AML/CFT monitoring, transaction tracking, total locked value analysis, and circulating supply detection into a structured compliance approach. It also integrates real-time threat detection, automated safeguards, and post-incident reporting to ensure continuous protection and operational resilience, the press release said.
Valentina Kondratenko, Hacken’s legal advisor, noted that as of January 17, 2025, DORA requirements will become “enforceable,” further adding that non-compliance “could result in severe penalties, such as fines of up to 2% of gross annual sales across the board.” around the world.” Or 1% of the average daily global trading volume.
The solution is understood to be compatible with multiple blockchain networks, incl Ethereum and BNP Series (formerly known as Binance Smart Chain), which expands its potential use.
MiCA regulations have created challenges for cryptocurrency companies aiming to expand into the European market. For example, cryptocurrency exchange Coinbase He had to stop USDC bonuses for EU customers due to MiCA, and even later It has been deleted pregnancy (USDT) from its European platform.
