Startup Bets $1M on ‘Read-Only’ Access, Redefining AI-Era Security

NEW YORK, NY – November 12, 2025

A new startup is taking a radical approach to online security, arguing that traditional passwords are ill-equipped for the age of artificial intelligence. Multifactor, a Y Combinator-backed company founded by former CIA and NASA scientists, today launched Checkpoint, a password manager that allows secure sharing of online account access without sharing passwords. The key innovation lies in its “read-only” link technology, enabling controlled access for both human users and increasingly sophisticated AI agents.

Challenging the Password Paradigm

For decades, the password has been the cornerstone of online security. But as the number of online accounts explodes and AI agents become more prevalent, that model is increasingly fragile. Multifactor argues that passwords are a single point of failure, susceptible to phishing, breaches, and unauthorized access. “The current system wasn’t designed for the scale and complexity of today’s digital world, or for the rise of AI,” says one security analyst. “Sharing credentials, even with trusted parties, introduces significant risk.”

Checkpoint addresses this challenge by decoupling access from passwords. Instead of sharing credentials, users can generate temporary, read-only links that grant access to specific accounts. AI agents, operating under pre-defined permissions, can then access the information they need without ever knowing the password. This approach significantly reduces the attack surface and minimizes the risk of credential theft. “It’s about moving from ‘who you are’ to ‘what you’re allowed to do’,” explains a source familiar with the company’s technology.

A Bold Demonstration of Trust

To underscore its confidence in the technology, Multifactor has taken a highly unusual step: making its $1 million corporate bank account accessible via a temporary, read-only link. The demonstration, available at www.multifactor.com/bank, allows anyone to view the account balance and recent transactions without being able to transfer funds or access sensitive information. “It’s a calculated risk,” admits an insider. “But we believe it’s the most effective way to demonstrate the robustness of our security model.”

The company intends to publish a detailed post-event summary documenting all access logs and verifying that the account remained secure throughout the demonstration. This transparency is critical in building trust, especially given the high stakes involved. “It’s a powerful statement,” says a cybersecurity consultant. “Putting your money where your mouth is—literally—shows a level of confidence that’s rare in this industry.”

The Rise of AI and the Need for Specialized Security

The growing integration of AI agents into online workflows is driving the need for specialized security solutions. “AI agents require access to a vast amount of data to perform their tasks effectively,” explains a tech industry analyst. “But giving them unrestricted access poses significant security risks.” Traditional access control mechanisms are not designed to handle the unique challenges posed by AI agents, which can operate autonomously and at scale. Multifactor's technology aims to fill this gap by providing fine-grained, revocable access control specifically tailored for AI agents.

The company's zero-trust architecture ensures that access is never implicitly trusted. Every request is authenticated and authorized based on pre-defined policies, and all activity is logged and audited. This level of control is essential for mitigating the risks associated with AI-powered automation. “We’re building a system that allows AI to operate safely and securely within the boundaries of our policies,” says a source close to the development team. “It’s about enabling the benefits of AI without compromising our security.”

Beyond Passwords: A New Era of Access Control

Multifactor’s Checkpoint is not simply a password manager; it’s a fundamentally new approach to access control. By decoupling access from credentials and embracing a zero-trust architecture, the company is laying the foundation for a more secure and resilient digital ecosystem. The implications extend beyond personal accounts to encompass enterprise security, cloud computing, and the Internet of Things. “This could be a game-changer,” says a cybersecurity expert. “If they can prove that this technology is scalable and reliable, it could redefine the way we think about online security.”

The company’s success will depend on its ability to build trust with both consumers and enterprises. Demonstrating the robustness of its technology through transparent audits and rigorous testing is crucial. The $1 million bank account demonstration is a bold step in that direction. But it's just the beginning. The real test will come as the company scales its technology and expands its reach. “We’re not just building a product; we’re building a new paradigm for online security,” says a source familiar with Multifactor’s long-term vision. “And we believe that paradigm is essential for the future of the digital world.”