Reduce Attack Surface Area

Because transactions on the blockchain may involve monetary exchange, attackers and scammers are incentivised to target wallets that store large amounts of readily accessible funds (which we term Spending Money), all of which are transparent on the blockchain. As opposed to cold wallets or off-chain ledger wallets, hot wallets that contain Spending Money are naturally more vulnerable to Web3 fraud because of higher volumes of transactions each day. FailSafe's Wallet Segregator enables the risk to be contained within a company's hot wallet.

Benefits

Protecting Company Assets

FailSafe manages an enterprise's assets under risk exposure by allowing enterprises to control the amount of treasury funds locked away in a on-chain cold wallet vault, which is designated and fully controlled by the enterprise and it's risk management team. The on-chain cold wallet vault is never used to directly interact with any external dApps or wallets, and is only authorised to transfer funds to and from authorised hot wallets.

Hot wallets that contain Spending Money are funded from the on-chain cold wallet vault, but only with a limited amount of assets needed for frequent use. In the case of an errant employee attempting to siphon funds away or a careless interaction with a malicious dApp, the extent of damage would be controlled.

Optimising for Efficiency and Usability

To ensure the organization remains efficient despite implementing security controls, enterprise managers are able to set desired balance ratio between the hot and cold wallet addresses, enabling auto funding (subject to customisable controls) once funds in hot wallets are depleted.

Suite of solutions:

• Wallet Segregation

• Asset Auto-rebalancing