CyVers And Station70 Launch New Secure Signer Solution To Protect Institutions

CyVers and Station70, two companies that focus on Web3 security, have joined forces to create a new tool to protect transactions for all kinds of businesses. This tool helps keep wallets and transaction systems safe from attacks.

CyVers announced the launch of Secure Signer earlier this week in an X post. This solution helps protect businesses from cyber threats and keeps transaction signing secure. It combines Station70’s service with CyVers’ threat detection system.

Users Can Review Transactions For Risks Before Blockchain Action

The tool gives Fireblocks wallet users an option to test and check their transactions for risks before they are added to the blockchain. The companies said this two-layer protection helps businesses keep control of their signing processes and ensures transactions are safe, watched, and protected, without making things harder.

Adam Healy, the Chief Executive Officer and Co-founder of Station70 said this new tool combines smart technology to help institutions feel safe with their transactions. He added that it is more than just a product—it is a way to rebuild trust in Web3 systems.

The tool is needed because many crypto companies have lost a lot of money due to security problems. According to reports, over $4 billion has been lost in the past two years due to attacks on wallets. Deddy Lavid, the Chief Executive Officer of CyVers, said the tool helps fix wallet security and can lower the chances of private key leaks and access issues.

In 2024, hacking cases grew by 1,000%, including large hacks like a $54 million breach at BtcTurk and a $52 million breach at BingX. Even though the amount of stolen crypto went down in 2023, the number of hacks went up, which means hacking is still a big problem for crypto investors.

Relm Insurance Partnered With CyVers To Protect Clients With Real-Time Security

In 2022, hackers took $3.7 billion from crypto platforms. But in 2023, that number dropped to $1.7 billion, a 54% decrease. The reason for this drop is fewer attacks on decentralized finance (DeFi) platforms.

Last month, Relm Insurance, based in Bermuda, said it is working with CyVers. Relm, a company that insures digital businesses, said CyVers would protect its clients in real-time from threats.

Relm explained that the CyVers platform is built to handle complex Web3 security problems, such as fraud and scams. The platform watches for harmful activities and helps protect businesses with special solutions.

The global head of distribution and innovation at Relm, Christian Davies, said the partnership gives clients extra protection by monitoring their wallets and smart contracts in real time. He said combining Relm’s crime insurance with CyVers’ technology gives Web3 clients the best protection.

CyVers’ technology will protect Relm clients from suspicious funding, dangerous contracts, smart contract problems, and private key leaks. It will also stop scams, such as suspicious approvals, rug pulls, and other attacks.