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Time Details
2025-07-01
19:06
Safe Launches 'Safe Labs' for Institutional Crypto Security Amid Wallet Exploits; ETH & SOL Prices Decline

According to @phantom, multi-party crypto wallet Safe has launched a new development unit, Safe Labs, to enhance security and attract institutional clients. This strategic shift follows a major hack and aims to address what Safe Labs CEO Rahul Rumalla calls 'cyber warfare' in the crypto space. The new unit will develop a 'V2' wallet and a 'Safe Pro' subscription plan for enterprises, building on Safe's platform which already secures over $60 billion in total value locked (TVL) and processes 10% of all EVM transaction volume. This security-focused development occurs as the market sees increased phishing attacks, such as a recent front-end exploit on a major crypto media website. Concurrently, market data indicates a downturn, with Ethereum (ETH) trading around $2,405, down approximately 3.5%, and Solana (SOL) dropping to about $147.55, a 4.7% decrease.

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