Blockchain auditor Hacken launches AI-powered MiCA-compliance tool for crypto firms

Blockchain security auditor Hacken introduces a new tool to automate security and compliance for web3 businesses as MiCA and DORA rules begin to emerge.

Hacken, an international blockchain auditor based in Ukraine, is launching a new solution that enables web3 businesses to automatically comply with European standards such as MiCA and DORA.

In a press release shared with Crypto.news, Hacken co-founder and CEO Dyma Budorin said the firm developed the product, called “Extractor,” to meet the “critical need for proactive monitoring and compliance in the crypto space.” According to the Tallinn-based firm, Extractor makes it easier to meet regulatory standards such as MiCA, DORA and ADGM by introducing a compliance monitoring framework for web3 projects.

Unlike other solutions on the market, Hacken’s solution is said to combine AML/CFT monitoring, transaction tracking, aggregate value locked analysis and circulating supply detection in a structured compliance approach. It also integrates real-time threat detection, automated protections, and post-incident reporting to provide ongoing protection and operational flexibility, the press release said.

Hacken’s legal counsel, Valentyna Kondratenko, added that from January 17, 2025, DORA’s requirements “will become applicable” and also that non-compliance “could result in serious penalties, such as fines of up to 2% of the total annual turnover worldwide.” or 1% of average daily global turnover.”

The solution is understood to be compatible with multiple blockchain networks, including Ethereum and BNB Chain (formerly Binance Smart Chain), expanding its potential use.

MiCA regulations have created challenges for crypto companies aiming to expand in the European market. For example, crypto exchange Coinbase was forced to halt USDC rewards to EU customers due to MiCA and subsequently removed Tether (USDT) from its European platform.