Coinbase-backed crypto firewall Harpie shuts down over business model struggles

Harpie, a service to prevent wallet and hacks, closed its doors after having struggled to develop a sustainable commercial model.

Harpie, a chain fighter supplier supported by Coinbase ventures And Openeseahas closed its services because the startup failed to create a “sustainable commercial” model around a “cryptographic ecosystem without theft”, he said in a X Thursday, March 27.

The company, which worked to protect crypto users from hacks, scams and theft, shared in the post that he hopes to have had an “impact” and inspired other companies to “take this torch and solve this difficult problem”.

According to the announcement, Harpie services are closed immediately and users were invited to disconnect their Harpie RPC portfolios using the network switch from their portfolio.

“If your transactions fail, please disconnect your Harpie RPC portfolios via the network switch from your wallet. We will create a utility to move vaul assets on the Harpie website in the coming days.”

Harpy

Even with the closure, Harpie made sure to let everyone know that all the gifts and awards awaiting their reference program would always be honored.

The judgment occurs almost three years after Harpie raised $ 4.5 million in a Dragonfly Capital financing tour, with the participation of Coinbase Ventures and Opensea. Initially, the startup business model billed 7% costs on any recovered active, according to Harpie’s White Paper. However, over time, Harpie has passed at fixed costs of 0.01 ETH per asset, regardless of the amount recovered.