Station 70, a startup focused on crypto recovery and backup, secured $5 million in seed funding led by Castle Island. Its core offering addresses the common problem of crypto owners losing access to their wallets. Station 70 acts as a secure password manager for institutional crypto keys, employing a quorum system and YubiKeys for verification while allowing users to move keys to different wallets in case of provider outages or hacks. Despite the popularity of self-custody wallets for enhanced security, incidents like hacks and accidental loss of keys highlight the need for Station 70’s robust backup solution.
Former BlockFi CSO Raises $5M For Crypto Recovery Startup
