Europe's Largest Financial App Revolut Introduces 'Street Mode' to Combat Phone Theft, Aave Founder Criticizes Sarcastically

According to X platform financial technology blogger @oost_marcel, Europe's largest financial app Revolut, with 65 million users, has introduced 'Street Mode,' considered one of the smartest security upgrades in the financial technology sector this year. Due to a surge in mobile theft cases in Europe, criminals have escalated their methods: robbers will force victims to complete a selfie verification before fleeing, a trend known as 'transfer robbery.' Revolut's solution is 'context-aware security.' This feature allows users to set 'trusted locations' (such as home, office, hotel), where transfers exceeding the limit will trigger additional selfie verification and a 1-hour delay restriction outside these areas. This 1-hour window is a crucial period for users or anti-fraud teams to promptly freeze funds. In comparison, traditional banks' security measures are static, while Revolut's 'Street Mode' can dynamically adjust rules based on the environment, with over 1 million users already using its wealth protection feature.

In response, Aave founder Stani sarcastically commented, 'London's street crime rate remains high, and financial technology companies are adjusting products to enhance user safety.'

Previously, Uniswap has supported Revolut for purchasing cryptocurrencies, and when using the built-in payment app Revolut pay to buy cryptocurrencies, the fee is 0.

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