Smart Accounts Deep Dive

Safe has launched Safenet Beta, a new defense protocol designed to address a fundamental gap in self-custody wallets. **The Problem** Current wallet security relies on centralized warning systems that operate between user signatures and transaction execution. These providers don't disclose their security checks, creating an opaque intermediary layer. **The Solution** - Safenet operates at the protocol level rather than through centralized warnings - Powered by the $SAFE token - Designed to protect users even if they sign malicious transactions by mistake - Provides onchain enforcement of security measures **Why It Matters** Since 2017, $20 billion has been lost to hacks in the self-custody space. Traditional warning systems have proven insufficient against sophisticated attacks. The beta is now live at [safefoundation.org/blog/safe-launches-safenet-beta](http://safefoundation.org/blog/safe-launches-safenet-beta)

Safe has launched **Safenet Beta**, a new defense protocol designed to protect self-custody wallets from security threats. **Key Features:** - Powered by the $SAFE token - Uses onchain enforcement to protect users even if they sign transactions by mistake - Addresses the $20B lost to hacks since 2017 The protocol aims to provide stronger security measures beyond traditional warnings, offering a new layer of protection for users managing their own assets.

The Safenet Beta protocol has successfully attested its first 100,000 transactions in less than two weeks since going live. **Key Achievement:** - 100,000 transactions processed in <2 weeks - Protocol now operational on mainnet - Targeting 1 billion transactions in the multisig ecosystem This milestone follows Safe's previous achievement of reaching 1 million transactions on mainnet in under two years, backed by 11 patents.

The Safe ecosystem is addressing the critical security issue of **blind signing** through Candide's OpenSig solution. **What is blind signing?** - Users approve transactions without seeing what they're actually signing - Creates significant security vulnerabilities - Particularly problematic in the age of AI agents **The Solution:** OpenSig enables **clear signing**, allowing users to understand exactly what they're approving before confirming transactions. This transparency is crucial for maintaining security as smart wallets and autonomous agents become more prevalent. The initiative represents a significant step forward in making Web3 interactions safer and more user-friendly, addressing one of the ecosystem's most pressing security concerns.

Safe{CON} has confirmed Ethereum Foundation's @hwwonx as a featured speaker for their upcoming conference. The presentation will explore Ethereum's DeFiPunk vision, adding to a growing lineup of blockchain thought leaders. This announcement follows the tradition of securing prominent speakers in the Ethereum ecosystem, similar to DΞVCON1's previous booking of Nick Szabo as keynote speaker. - Focus will be on Ethereum's DeFiPunk vision - Speaker: @hwwonx from Ethereum Foundation - Part of Safe{CON}'s speaker series