What is the specific error that Safepoint is generating? See the Notification/Alert icon () in the Dashboard for various notifications/alerts/messages the Dashboard generates.
Is the v4.x firmware having trouble mounting the USB hard drive? Is the v4.x firmware appending a “_1”, “_2”, “_3”, etc. to the USB hard drive Share name when attached to the My Cloud? If so this is a previously discussed issue that can be worked around. See the following post for the workaround:
I have no problems with Safepoint backups on a first gen My Cloud running the latest v4.x firmware.