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Evervault’s new 12:18:24 service ends the problem of people losing access to their cryptocurrency if they no longer have their seed phrases.
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12:18:24 customers can safely store all their cryptocurrency wallet seed phrases in one secure account that’s protected by Evervault’s industry-leading encryption.
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The service uses the same encryption technology offered by Evervault to financial technology companies and health information businesses.
Dublin, Ireland: Evervault, the encryption engine for the web that automatically encrypts sensitive information, has released a new consumer service that securely stores seed phrases for cryptocurrency wallets using its enterprise-grade encryption, helping to prevent the problems of hackers attempting to steal cryptocurrencies and people misplacing crucial information.
12:18:24 (pronounced “twelve, eighteen, twenty-four”), named after the most common lengths of seed phrases, uses Evervault’s industry-standard encryption technology to securely store the vital seed phrases used to access cryptocurrency wallets. The service can be accessed from the new 121824.com website.
Evervault is one of the world’s leading encryption businesses and its automatic encryption technology is used by financial technology and health information businesses to protect sensitive information and reduce the risk of data breaches.
Access to 12:18:24 costs $1 per wallet per month or $10 per wallet per year and is secured using industry-standard security features including strong passwords and biometric information.
Customers can sign up to the 12:18:24 waitlist today and will be given access to the service in the coming weeks.
Seed phrases consist of a sequence of 12 to 24 words generated when creating a cryptocurrency wallet that give customers access to the wallet. If these phrases are lost or stolen then people are locked out of their accounts, losing their cryptocurrencies.
With 12:18:24, customers enter their seed phrases into Evervault’s secure hosted service for safekeeping. Evervault automatically encrypts the information before storing it, meaning only customers are able to access the information when they need to use their seed phrases. All cryptographic operations happen inside Evervault’s E3, powered by AWS Nitro Enclaves.
Simply input a seed phrase into your 12:18:24 account and it’s kept secure, meaning customers no longer need to risk losing access to their wallets or letting hackers into them by printing out a single copy of their seed phrase. Customers can pay per wallet to store as many seed phrases as they like inside their 12:18:24 account, giving each seed phrase a name that relates to the wallet it’s used for.
“It’s incredibly exciting to see the rise of Web3 and cryptocurrency services, but this popularity has sadly been accompanied by a similar rise in the number of cybersecurity incidents in the space. There’s no reason why owning crypto means anyone should be less secure than storing fiat currency in online banking, and Evervault’s new 12:18:24 service will keep crypto wallets safe using encryption technology that’s even more secure than many traditional finance businesses,” said Evervault CEO Shane Curran.