diff --git a/tests/tools/test_credential_files.py b/tests/tools/test_credential_files.py
index 7f8a661a3ccc..0862b6722c84 100644
--- a/tests/tools/test_credential_files.py
+++ b/tests/tools/test_credential_files.py
@@ -609,3 +609,36 @@ class TestMasterCredentialStoresAreNeverMountable:
         with patch.dict(os.environ, {"HERMES_HOME": str(home)}):
             assert register_credential_file("../../.ssh/id_rsa") is False
             assert register_credential_file("/etc/passwd") is False
+
+    def test_missing_guard_fails_closed_with_error_log(self, tmp_path, caplog):
+        """If agent.file_safety can't be imported the mount is refused loudly.
+
+        The fail-closed path must be observable (#67665): a silent deny with
+        no diagnostic reproduces the trust gap the deny-list was added to fix.
+        """
+        import tools.credential_files as cf
+
+        home = self._home(tmp_path)
+        with patch.dict(os.environ, {"HERMES_HOME": str(home)}), \
+                patch.object(cf, "get_read_block_error", None):
+            with caplog.at_level("ERROR", logger="tools.credential_files"):
+                assert cf.register_credential_file("google_token.json") is False
+            assert cf.get_credential_file_mounts() == []
+        assert any("deny-list cannot be consulted" in r.message for r in caplog.records)
+
+    def test_guard_exception_fails_closed_with_traceback(self, tmp_path, caplog):
+        """A raising guard refuses the mount and logs the stack trace."""
+        import tools.credential_files as cf
+
+        home = self._home(tmp_path)
+
+        def _boom(path):
+            raise RuntimeError("guard exploded")
+
+        with patch.dict(os.environ, {"HERMES_HOME": str(home)}), \
+                patch.object(cf, "get_read_block_error", _boom):
+            with caplog.at_level("ERROR", logger="tools.credential_files"):
+                assert cf.register_credential_file("google_token.json") is False
+            assert cf.get_credential_file_mounts() == []
+        rec = next(r for r in caplog.records if "read guard raised" in r.message)
+        assert rec.exc_info is not None, "traceback must be attached (logger.exception)"
diff --git a/tools/credential_files.py b/tools/credential_files.py
index f7e588337aae..583d9973b547 100644
--- a/tools/credential_files.py
+++ b/tools/credential_files.py
@@ -28,6 +28,11 @@ from pathlib import Path
 from typing import Dict, List, Optional
 from hermes_cli.config import cfg_get
 
+try:  # pragma: no cover - exercised via the fail-closed test below
+    from agent.file_safety import get_read_block_error
+except ImportError:  # noqa: F401 - sentinel consumed in register_credential_file
+    get_read_block_error = None  # type: ignore[assignment]
+
 logger = logging.getLogger(__name__)
 
 # Session-scoped list of credential files to mount.
@@ -110,15 +115,22 @@ def register_credential_file(
     # Master credential stores are never mountable, even though they sit
     # inside HERMES_HOME and therefore pass the containment check above.
     # Fails CLOSED: if the canonical guard can't be consulted we refuse the
-    # mount rather than risk bind-mounting auth.json into a sandbox.
+    # mount rather than risk bind-mounting auth.json into a sandbox. The
+    # import lives at module top (no circular-import concern — file_safety is
+    # stdlib-only); the sentinel + logger.exception keep guard failures
+    # debuggable instead of silently swallowed (#67665).
+    if get_read_block_error is None:
+        logger.error(
+            "credential_files: refusing %r — agent.file_safety could not be "
+            "imported, so the master-store deny-list cannot be consulted",
+            relative_path,
+        )
+        return False
     try:
-        from agent.file_safety import get_read_block_error
-
         denied = get_read_block_error(str(resolved))
-    except Exception as exc:  # pragma: no cover - core module
-        logger.warning(
-            "credential_files: refusing %r — read guard unavailable (%s)",
-            relative_path, exc,
+    except Exception:
+        logger.exception(
+            "credential_files: refusing %r — read guard raised", relative_path
         )
         return False
     if denied: