Ironblocks Firewall: Unveiling the First Batch of Security Policies in DeFi

Dive into the first batch of Ironblocks Firewall security policies for DeFi protocols – EOA Only, Balance Change, Allow List and Block List, and Forbidden Methods.

June 19, 2024

2 min read

Ironblocks Firewall: Unveiling the First Batch of Security Policies in DeFi

Ironblocks is revolutionizing DeFi security with the recent launch of the first open-source, on-chain, self-service Web3 Firewall. Backed by esteemed partners Linea, AltLayer, and Kinto, this is set to transform how DeFi security operates.

‍

Dive into the first batch of audited Firewall security policies, available for deployment today:

EOA Only: Externally owned accounts only
Balance Change: Controls significant balance changes
Allow List and Block List: Manages address access
Forbidden Methods: Disables exploitative functions

Purpose-Built for DeFi Protocols

The Ironblocks Firewall is setting new standards in blockchain security. Launched in collaboration with key partners, our approach offers a robust defense against emerging threats with cutting-edge security policies.

As the protocol owner, you own and deploy these policies, ensuring they align with your governance requirements. Each policy is a specialized smart contract engineered to precisely detect and prevent specific attack vectors, defining what transactions can or cannot do on your protocol.

1. EOA Only: Protect Against Malicious Smart Contracts

This policy ensures that only externally owned accounts (EOAs) can interact with your protocol, preventing access from potentially malicious smart contracts. The policy checks the sender of each transaction, verifying it as an EOA rather than a contract account.

‍

EOA Only helps mitigate risks from contract-based attacks, such as those exploiting automated interactions by malicious smart contracts typically employed in DeFi exploits. This is ideal for DeFi applications where interactions should be restricted to human users, such as voting or user-specific financial transactions.

‍

Simply deploy the EOA Only smart contract and reference it within your protocol’s transaction validation logic.

2. Balance Change: Prevent Unauthorized Transactions

Built to monitor and control significant changes in account balances, this policy prevents unauthorized transactions that drain funds through large, unauthorized transfers. Balance Change sets thresholds for acceptable balance changes, flagging and potentially blocking transactions that exceed these limits.

‍

This policy is suitable for protocols managing user funds, such as lending platforms and exchanges. Configure the policy to define acceptable balance change thresholds and it will continuously monitor transactions. Integrate the Balance Change smart contract directly with your existing protocol’s transaction validation system.

3. Allow List and Block List: Control and Restrict Access

These policies (aka Whitelisting and Blacklisting) manage and limit access to predetermined addresses, enhancing control over who can interact with your protocol. Allow list grants access to the address, while block list will prevent access. These policies maintain a list of approved and disallowed addresses and checks each incoming transaction against it.

‍

Allow List and Block List are useful for permissioned DeFi applications, private sales, and platforms requiring controlled access. Both policies are deployed as smart contracts that hook directly into your protocol’s transaction validation process. Once deployed, you as the protocol owner can add or remove addresses as needed and the policy automatically filters transactions.

4. Forbidden Methods: Disable Exploitative Functions

The Forbidden Methods policy protects against known exploits targeting specific smart contract functions. It defines a set of restricted functions and prevents transactions that attempt to call these functions. It will monitor and block specific functions or methods which you choose to configure. The difference between Forbidden Methods and Block List is that the first is the option to block specific functions and methods while the latter is a separate policy for blocking addresses.

‍

Forbidden Methods is ideal for protocols with newly identified vulnerabilities in certain functions, such as administrative functions or privileged operations, that require immediate threat prevention before a comprehensive patch to the core contracts can be deployed. Implemented as a smart contract that integrates with your protocol’s execution logic, the policy can be configured to adapt to emerging threats.

Take Part in Web3 Security’s Paradigm Shift

Deploying a DeFi protocol exposes you to a high frequency and sophistication of threats. Addressing critical vulnerabilities in Web3’s current security infrastructure will require a shift away from rigid smart contracts towards upgradeable architectures that don’t require constant manipulation of a protocol’s core logic.

‍

Firewall security policies examine transactions before and after execution, enabling adaptable and comprehensive protection measures that uphold decentralized security and prevent post-deployment attacks effectively.

‍

Now that you’ve learned about the first batch of security policies, discover the power potential of modular security - go ahead and integrate The Ironblocks Firewall

‍

About Ironblocks

Ironblocks is an end-to-end security provider for Web3 platforms, DeFi protocols, bridges, market makers, and other digital asset projects. Ironblocks automates proactive threat detection and will soon enable teams to instantly take preventative measures in milliseconds.

‍

Our mission is to protect decentralized finance and web3 from threats and thefts, creating the security needed to enable broad adoption of these platforms.

‍

Ironblocks’ Official Links: