Blockaid, a cybersecurity agency specializing in blockchain safety, mentioned it raised $50 million in a Sequence B funding spherical to assist increase analysis, engineering and product improvement.
Ribbit Capital led the spherical, with backing from GV and current buyers together with Variant and Cyberstarts, the corporate mentioned. The funding comes as demand for blockchain safety rises, with main monetary establishments and fintech corporations increasing their on-chain operations.
Blockaid, which began operations in 2023 and raised $27 million in a Sequence A spherical, offers real-time menace detection for blockchain transactions. The corporate integrates straight with wallets and decentralized functions (dapps) to safe customers from malicious actors. Final yr, the platform scanned greater than 2.4 billion transactions and blocked 71 million assaults.
“Whereas the blockchain itself is safe, on-chain functions and the customers that work together with them are in danger,” CEO Ido Ben-Natan mentioned in an announcement. “This funding will assist us proceed to advance our machine studying capabilities and increase our present choices to remain forward in a extremely adversarial panorama of evolving threats.”
Blockaid’s safety community is utilized by corporations reminiscent of Coinbase, MetaMask, Uniswap and Stellar.
The funding follows a surge in blockchain exercise, with stablecoin transaction quantity reaching $8.5 trillion within the latter half of 2024.
See additionally: Extra Than Half of Crypto Tokens Debuted in 2024 Had been Malicious: Blockaid
Disclaimer: This text, or elements of it, was generated with help from AI instruments and reviewed by our editorial crew to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.