FailSafe acts as an interceptor tool to prevent fraudulent transactions from finalizing on the blockchain.
The tool constantly monitors pending transactions across public, private, & internal transaction streams on the blockchain. And once an attacker's pending transaction is detected, FailSafe submits a "just-in-time" counter transaction that moves the protected wallet's assets to a recovery vault before the attacker's transaction is executed.
An added benefit is that FailSafe has no access to its users' private keys. And it does support both EOA's (normal wallet addresses) as well as smart contracts.
To activate the protection of your assets, you simply need to visit app.getfailsafe.com &:
- Connect your wallet
- Toggle the FailSafe switch for each asset you want to protect
- Select 'Smart Protect' to block high-risk transactions or 'Total Protect' to block all transactions
- Confirm the approvals & signature request to finalize the protection
An issue I found with the pricing model was that there was an upper limit as to how many transactions were covered per month, except for the highest-paid custom tier, which doesn't even have a price listed. This makes its protection largely ineffective when talking about a targeted attack, as the FailSafe protection would expire after a certain number of transactions.
Overall, I think this could be very helpful to users, but they need to rework their pricing model & prioritize user safety over tiered monthly fees IMO. Show Less
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