Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

FailSafe is building the next level of crypto security, and major players are taking notice. 🔐

27 Apr 2025 · 1 min

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FailSafe's platform could have stopped the Bybit hack using multisig wallets and whitelisting to catch attacks in real time. Singapore's largest cybersecurity vendor is interested in bundling their product for clients.

How would you have solved Bybit hack? So we actually replayed that attack. We protect multisig wallets, whitelisting. There's a number of mechanisms. That attack would have been caught by our technology. Would this be something that Coinbase would use?
We're working with a few exchanges today. We found that stablecoin issuers are the ones who are more forward with us. Like, what's the next level of security? Anyone can be socially engineered into anything. Singapore's largest cybersecurity vendor has reached out to us and said, hey, actually, we'd love to bundle this product with you so so that we can catch hacks even earlier on.