Welcome to Token Issue! Delivered every Friday, this free newsletter breaks down the biggest stories in Asia’s crypto scene and beyond. View past issues here or sign up here to receive future newsletters.
Hello there,
Keeping your tokens in your wallet was something of a challenge in 2022. It was the worst year ever for crypto theft, with almost US$20.1 billion stolen by hackers. You would have thought someone would find a way to prevent it.
Well, Eleos Labs – a new company out of Singapore – is working on software that does just that, at least in the decentralized finance space. Much like cybersecurity software, Eleos has a list of who’s been naughty; and much like banks, its software – called FailSafe – will monitor wallets for unusual activity.
For this week’s Deep Dive, I talk to Gennady “Ari” Medvinsky, who is currently advising Eleos on security. He’s previously worked on Windows and Xbox, finding ways to keep them safer, and he’s also a Grab alumni.
With that background, it’s not surprising that Medvinsky and his team have some interesting ideas on how to make your company’s crypto wallets safer.
— Scott
🤿 THE DEEP DIVE
Anti-theft crypto wallets planned by new crypto security firm
Image credit: Timmy Loen
Eleos Labs, which launched on Friday, includes a list of advisors who all know about the crypto industry’s problems with theft and fraud. The firm’s software is novel in that it can not only scan for risky trades but also stop them – even if the hackers have gotten your private keys.
👀 ALL EYES ON…
What everyone’s talking about.
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
