Webacy Bags $5M Fund, Fortifying Next-gen Crypto Wallet

Webacy has closed a $5 million seed fundraising round
Webacy is a technology layer, not a competitor to crypto wallets like MetaMask
The concept enables users to access their wallets without requiring keys, seed phrases

Webacy has closed a $5 million seed fundraising round headed by Web3-focused investment firm gmjp, with backing from entrepreneur Gary Vaynerchuk, his brother AJ Vaynerchuk, and Mozilla Ventures.

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Maika Isogawa, CEO and Founder of Webacy stated:

Webacy is a part of a movement to help bring consumers and businesses that own digital assets power to protect themselves using decentralized tools.

Webacy is a technology layer, not a competitor to crypto wallets like MetaMask. The concept enables users to access their existing self-custodial wallets without requiring keys, seed phrases, or passwords and provides security precautions to prevent assets from being lost or stolen.

Webacy aims to be the leader in providing assets security:

We are excited to build Webacy as the strongest brand to help secure your digital legacy; the assets that you’ve accumulated and will hold for your lifetime as a representation of your wealth and of your activity and lifestyle.

Other partners of the company include Soma Capital, Quantstamp, CEAS Investments, Dreamers, Miraise, DG Daiwa Ventures, to name a few. Previous investors, our even earlier supporters, include Pareto Holdings, Quiet Capital, LOI Venture, MetaverseHQ, and Origin Protocol.

In other news, over $180,000 was stolen by DeFii exploiter from Cow Swap Dex. Ten days ago, CoWSwap’s GPv2Settlement contract was tricked into allowing SwapGuard for DAI spending. The attacker then utilized the SwapGuard trigger to move the DAI outside of the GPv2Settlement. It has been stated that the SwapGuard function enables logged-in users to call any function they like.

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José Gustavo

José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.