FailSafe has introduced a new "Easy Protect" feature that allows users to activate advanced wallet security for their crypto assets without needing to pay upfront gas fees. Previously, users had to pre-fund the FailSafe smart contract with a minimum amount of gas fees (e.g. 0.03 ETH on Ethereum) to enable protection.
With Easy Protect, when FailSafe's system detects and intercepts an attempted theft from the user's wallet, it will pay the required gas fee upfront to halt the malicious transaction. In the same transaction, FailSafe then recoups the gas fee amount by receiving an equivalent value transfer from the user's wallet of a high-liquidity token like USDC or WETH.
This allows users to activate FailSafe's Safe Mode or Smart Mode protection for their assets with zero friction, only paying gas fees if and when FailSafe has to actively block an attack on their wallet. Easy Protect makes FailSafe's top-tier wallet security accessible to all users regardless of upfront gas fee requirements on different blockchains like Ethereum.
This will be helpful for saving beginner crypto users from being scammed but I also educating users will also be important in helping them prevent their wallets from getting hacked or interacting with malicious contracts.
Even with a wallet like FailSafe without proper knowledge of how to interact with contracts or how to detect scams that look legit, it can still be possible to be scammed and drained of your wallet. Show Less
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