Scam Detector Premium Feed Proposal

Name of Premium Feed Scam Detector
Forta Network Bot ID 0x1d646c4045189991fdfd24a66b192a294158b839a6ec121d740474bdacb3ab23
About Bot Owner

Forta Foundation, BlockSec, Nethermind + community contributors

The Forta Foundation is a non-profit entity that stewards the Forta Network, which includes holding certain off-chain intellectual property on behalf of the Forta community.

Nethermind is an Ethereum research and software engineering company enabling enterprises and developers worldwide to build on the decentralized web. Their work touches every part of the ecosystem, from its Nethermind node to fundamental cryptography research and application-layer protocol development.

BlockSec is a leading provider of blockchain security infrastructure. The team is founded by top-notch security researchers and experienced experts from both academia and industry. They have published multiple blockchain security papers in prestigious conferences, reported several zero-day attacks of DeFi applications, and successfully protected digital assets worth more than $14 million by blocking multiple attacks.

How the Premium Feed works

The Scam Detector is an ideal source of threat intel for Web3 wallets and dashboard tools, as well as for security and compliance solutions serving a retail or institutional audience. Use the Scam Detector to build or supplement a blocklist, or as a transaction analysis tool by querying the Scam Detector at the point of approval or transaction to determine whether they are malicious.

The Scam Detector provides threat intelligence about malicious smart contracts, EOAs, and URLs engaging in scams and other end user attacks. It relies on a bundle of underlying Forta bots, each monitoring for a specific threat type (eg: Ice Phishing).

The Scam Detector and its underlying bots are collectively maintained by the Forta community, including the Forta Foundation, Nethermind, BlockSec and over a dozen individual security researchers and developers.

Supported chains (Chain ID):

  • Ethereum (1)
  • BSC (56)
  • Polygon (137)
  • Arbitrum (42161)
  • Optimism (10)
  • Fantom (250)
  • Avalanche (43114)
Anticipated target market
  • Web3 wallets
  • AML/compliance platforms
  • Centralized exchanges
  • Others
Maintenance/Support Facilitated by the Forta Foundation, BlockSec, Nethermind and various individual community contributors will be actively maintaining the Scam Detector and its dependent bots, testing performance, receiving feedback from the Forta community and making the appropriate upgrades on a regular basis.

The teams are committed to provide technical support to all subscribers and prospective subscribers via the Feed’s dedicated Discord channel, as well as through direct communication channels.

Polygon Address for receiving fee revenue 0xC99884BE6eEE5533Be08152C40DF0464B3FAE877
Price 899 USDC/month
Performance information The performance of the Scam Detector can be monitored on the bot’s page.

The Scam Detector reliably processes incoming alerts as shown on its bot health page even for fast chains, like BSC as shown on the bot health page.

The bot is sharding capable and currently utilizes a sharding configuration of eight shards and six targets (config) resulting in a reliable deployment of this bot.

Also, the Scam Detector current precision of the Scam Detector is 87.20% (here more details).

  • Precision is how we quantify the quality of a Feed. It represents the percentage of alerts that are correctly identifying scammers (aka a true positive) from 0-100, and calculated on a monthly basis for each threat type covered by the Scam Detector. The Scam Feed monitors for multiple threat types; each threat type maps to an alert_id (ex: ICE-PHISHING or WASH-TRADING). Every alert or label generated by the Scam Feed will be tagged with the relevant alert_id (aka threat type).
  • Precision is calculated using a combination of random sampling and manual transaction review. The Forta Foundation takes a random sample of labels for each threat type throughout the month, across different chains. Using block explorers like Etherscan, the Foundation then manually reviews the underlying transaction activity that triggered the alert and corresponding scammer label. The person conducting the review has specific grading guidelines and is trained to identify threat patterns. While the reviewer may cross-reference other public data sources for additional evidence of true and false positives, the Scam Detector relies exclusively on it’s own logic for flagging scam activity. After the review is complete, a true or false positive determination is made.
Documentation Documentation
Compatible licensing Forta Bot License 1.0
1 Like

Following the last Forta Council meeting, the Premium Feed proposal submitted by Christian Seifert on the Scam Detector was approved by half of the active Council members in accordance with the Bylaws.

Minutes from Forta Council meeting of July 25th, 2023.