Blockaid founders. (Photo Liron Weisman)
In a move that underscores its dominance in onchain security, Israeli cybersecurity powerhouse Blockaid has secured a staggering $50 million in Series B funding. Spearheaded by the influential Ribbit Capital and backed by tech giant Google Ventures, the round also saw continued support from key investors like Variant and Cyberstarts, Blockaid’s earliest believer.
With its cutting-edge security solutions shielding industry titans such as Coinbase, Metamask, Stellar, Uniswap, and World App, Blockaid stands as the guardian of the blockchain’s most critical players. This massive infusion of capital will fuel its relentless expansion in operations and R&D, ensuring it stays ahead of the ever-growing demand for ironclad onchain protection.
Blockaid was founded by Ido Ben-Natan and CTO Raz Niv in 2022, who served together in Israeli Cyber Intelligence, a renowned training ground for the world’s best cybersecurity founders. Blockaid boasts that its “leading” security tools stop malicious transactions before they happen, protecting web3 users from scams, phishing, and hacks.
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Web3 security is the practice of protecting Web3 applications and users from cyber attacks. Web3 is a decentralized internet that uses blockchain technology to enable peer-to-peer transactions and interactions without the need for intermediaries. While Web3 offers a number of advantages over the traditional web, it also introduces new security challenges.
There are a number of initiatives underway to improve Web3 security. For example, a number of blockchain auditing companies have been formed to help identify and fix smart contract vulnerabilities. Additionally, a number of Web3 security tools and services have been developed to help users protect themselves from phishing attacks, wallet hacks, and other threats.
Overall, Web3 security is a complex and evolving topic. However, by following the tips above and staying informed about the latest threats, users can take steps to protect themselves and their assets.
Since its founding, Blockaid has secured over $101 billion in assets, prevented more than $5.3 billion in potential losses, scanned over 2.4 billion transactions, protected over 787 million dApp connections and detected and blocked more than 71 million attacks.
“As DeFi growth continues to surge, and fintechs like Stripe and major institutions like J.P. Morgan, Fidelity, and UBS scale their blockchain initiatives, Blockaid is positioned to be the cybersecurity solution of choice for securing every onchain interaction,” said Blockaid CEO Ido Ben-Natan. “While the blockchain itself is secure, onchain applications and the users that interact with them are at risk. Both consumers and organizations face threats from advanced actors and nation states from the day new projects launch. While early solutions focused on catching criminals, we stop onchain-related crime at scale.”
