Failsafe Wallet Firewall Just Might Save Your ASSets!
Failsafe is doing some pretty cool things to help protect crypto users.
In simple terms they allow you to connect your wallet and flag assets you would like to protect. Then they have a few different methods for protecting those selected assets.
Two of the methods are very interesting…
In the first example I will be oversimplifying it a bit, but they try to front-run the hacker in the mempool and attempt to cancel or redirect the transaction. Very interesting but also, I’m not exactly sure how they do this technically, but I guess this is part of the proprietary IP.
The other method which I’m also not sure how they pull off is 2FA (two factor authentication) on a hot wallet. This basically makes it like a cold wallet like ledger.
Over all this a very exciting project that help make things a bit safer for us all.
They have some serious backers like Sequoia and Dragonfly, and the team looks to be stacked with talent.
Lastly this is a working product not some idea in a pitch deck, so I’m going all in with 5 stars. Show Less
1
