Share this article
Encryption Firm Evervault Launches Service to Protect Crypto Seed Phrases
The company’s 121824 subscription service allows users to securely store the keys to their digital wallets.
By Brandy Betz
Updated May 11, 2023, 7:10 p.m. Published Feb 16, 2022, 2:00 p.m.
Encryption technology firm Evervault has launched a new subscription service that securely stores cryptocurrency wallet seed phrases to prevent theft and loss.
- Seed phrases are a series of words that give users access to the cryptocurrency in their digital wallet. The phrases usually contain 12, 18 or 24 words, leading Evervault to name its service 121824.
- The 121824 service is secured by the same encryption technology that Dublin-based Evervault offers to financial and health information companies.
- User data remains encrypted at all times, though it can still be processed and shared. Evervault never stores the data and developers don’t configure crypto algorithms or manage keys.
- Access to 121824 costs $1 per wallet per month, or $10 per wallet per year. Users access the service through the website, which currently has the waitlist open with a full launch expected in the coming weeks.
- Seed phrase security became a plot point in the headline-grabbing arrest of a couple that allegedly laundered billions of dollars in bitcoin from the 2016 Bitfinex hack.
- When the arrest was announced on Feb. 8, U.S. authorities said they were able to access wallets controlled by Ilya Lichtenstein and Heather Morgan after decrypting a spreadsheet of seed phrases saved to a cloud storage service.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
What to know:
- Exodus is launching a fully reserved, USD-backed stablecoin with MoonPay to power self-custodial payments in its crypto wallet app.
- The stablecoin will support Exodus Pay, a new feature enabling users to spend and send digital dollars without relying on centralized exchanges.
- With the launch, Exodus joins a short list of public companies, including PayPal and Circle, backing stablecoin products.
Top Stories
