Blockaid, a pioneering startup in blockchain application security, has successfully raised $50 million in a Series B funding round, elevating its total funding to $83 million. This significant investment was spearheaded by Ribbit Capital, with contributions from GV and existing investors like Variant and Cyberstarts.

Innovative Security Platform

Founded in 2022, Blockaid operates from New York and Tel Aviv, offering a robust web3 security platform. This platform is engineered to shield blockchain applications from cyber threats by scanning, simulating, and validating transactions. It aims to thwart scams, fraud, and phishing through direct user integrations, blockchain monitoring, and advanced threat detection.

Mission and Impact

Blockaid is committed to securing onchain interactions, safeguarding both organizations and individual users from cybercrime and state-sponsored attacks. Its solutions are trusted by major industry players, including Coinbase, MetaMask, and Uniswap. The platform has successfully blocked over 71 million attacks, securing more than 787 million decentralized application (dApp) connections and preventing potential losses exceeding $5.3 billion.

Future Plans and Expansion

With the new funding, Blockaid plans to expand its research and development, engineering, and product teams to meet the increasing demand for its security solutions. The company aims to enhance its machine learning capabilities and broaden its offerings to stay ahead in the rapidly evolving threat landscape.

As blockchain technology continues to gain traction and attract new investors, ensuring comprehensive security becomes crucial. Blockaid's latest funding will enable it to maintain its competitive edge in providing cutting-edge security solutions.

Learn more about zero-day vulnerabilities in our detailed Research section.

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