Safe, the popular multiparty crypto wallet previously called Gnosis Safe, launched a new development unit, the Safe Labs, in one step aimed at combining its operations and sharpening its roadmap product after it was targeted into the $ 1.4 billion hack of February -the biggest crypto heist to date.
The new creature will serve as the main arm of the development of the safe, which to this day has had outsourced technical work in a separate firm firm, a structure commonly used throughout the crypto industry, Labs’s safe executive chief Rahul Rumalla said Wednesday. Safe labs will operate directly under the umbrella of the Safe Foundation, a nonprofit organization.
In an interview with CoinDesk, Rumalla said the transition reflects a broader movement of approach towards developing products that can meet both Cypherpunk’s ideological culture standards and the practical demands of business clients.
“This framework is forced to run – it really forces you to compromise one of the other: if you want more security, you need to compromise at comfort, and if you want more comfort, you can compromise security,” Rumalla said.
“We at Safe Labs, we turned away and we rejected this plot. We didn’t want to work with this model where we had to compromise another.”
Post-hack pivot
According to Rumalla, Bybit Hack is a “catalyst” for the creation of safe labs.
While the main contracts of Smart Smart have remained unpromised, the application facing the web user has been infiltrated in the malicious code of North Korea’s Lazarus Group. That attack enables hackers to deceive the CEO ofbit by signing off a transaction that rerouts funds in their control.
“What we saw in an attack like this was that our basic amounts were used against us,” Rumalla said. “Anonymity, privacy, self-custody, transparency, open resources-these are used against us.”
Despite the violation, Rumalla said the user’s confidence in the safe platform remained strong. The application has seen “practical without churn” afterwards and continues to process 10% of all transactions volume throughout the Ethereum Virtual Machine (EVM) -Compatible Network.
“We do not defend against cyberattacks,” Rumalla said. “We defend the war in cyber, and it requires a mindset shift – not just at the project level, not at the company level, but as Ethereum or even crypto as a whole.”
From goals to infrastructure
Moving to formalin internal development reflects similar transfers of other major protocols, including Morpho and Polygon.
Accordingly, safe labs also focus on product design. The team is currently working on a “V2” version of its purse, described by Rumalla as more “opinionated” – meaning the direction of a stronger product, especially for institutional users.
“What will launch and trial in the future is a subscription plan, essentially, called Safe Pro – or safe for businesses, safe for institutions – very much surrounding that kingdom,” he said. “We are going to the usual package of opinion that this product is more than just for user segments with higher security needs and more customization.
“We need to work at the speed of start,” Rumalla added. “That in itself is the basis of why we need to work as a separate, independent creature. We need to align where we need to align, which is on the mission, but we need to be more independent in terms of how we accomplish.”
With over $ 60 billion in total amount locked and over $ 1 trillion in the amount of transaction in history, according to Rumalla, the safe remains one of the most tested of crypto self-custody platforms. The team, now nearly 40 strong and based in Berlin, is the bet that the next chapter-the one who embraces the product design without sacrificing its open-source ethos-will help determine how purses look in a world leading to a trillion-dollar on-chain economy.
“Our mission is simple: self -care makes it easy and safe,” Rumalla said. “That’s a win for everyone.”
