Blockaid, a cybersecurity company that specializes in blockchain security, said it raised $ 50 million in a series B funding to help expand research, engineering and product development.
The Ribbit Capital led the spin, with backing from GV and existing investors including variants and cyberstarts, the company said. The funding is coming as the demand for blockchain security is rising, with major financial institutions and Fintech companies expanding their on-chain operations.
Blockaid, who started operations in 2023 and Raised $ 27 million In a series A Round, it provides real-time threats for blockchain transactions. The company integrates directly into purses and Decentralized application (DAPPS) to secure users from malicious actors. Last year, the platform scanned more than 2.4 billion transactions and blocked 71 million attacks.
“While the blockchain itself is safe, the on-chain applications and the users who contact them are at risk,” CEO Ido Ben-Natan said in a statement. “This investment will help us continue to advance our machine learning abilities and expand our current offerings to stay in advance of an absolute opponent of the scene of emerging threats.”
Blockaid security network is used by companies such as Coinbase, Metamask, Uniswap and Stellar.
The investment follows a climbing blockchain activity, with a Stablecoin transaction volume of up to $ 8.5 trillion in the last half of 2024.
See also: More than half of Crypto tokens rose in 2024 was malicious: Blockaid
Denial: This article, or its components, has developed help from AI tools and is reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
