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By Sheldon Reback, CoinDesk Bot|Edited by Stephen Alpher
Feb 18, 2025, 4:04 p.m. UTC
What to know:
- Blockaid secured $50 million in Series B funding led by Ribbit Capital, with participation from GV and existing investors.
- The company say it scanned over 2.4 billion transactions and blocked 71 million attacks last year.
- Blockaid plans to expand its research and engineering teams to meet growing demand from financial institutions and Web3 companies.
Blockaid, a cybersecurity firm specializing in blockchain security, said it raised $50 million in a Series B funding round to help expand research, engineering and product development.
Ribbit Capital led the round, with backing from GV and existing investors including Variant and Cyberstarts, the company said. The funding comes as demand for blockchain security rises, with major financial institutions and fintech firms expanding their on-chain operations.
Story continues
Blockaid, which started operations in 2023 and raised $27 million in a Series A round, provides real-time threat detection for blockchain transactions. The company integrates directly with wallets and decentralized applications (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 secure, on-chain applications and the users that interact with them are at risk,” CEO Ido Ben-Natan said in a statement. “This investment will help us continue to advance our machine learning capabilities and expand our current offerings to stay ahead in a highly adversarial landscape of evolving threats.”
Blockaid’s security network is used by companies such as Coinbase, MetaMask, Uniswap and Stellar.
The investment follows a surge in blockchain activity, with stablecoin transaction volume reaching $8.5 trillion in the latter half of 2024.
See also: More Than Half of Crypto Tokens Debuted in 2024 Were Malicious: Blockaid
Disclaimer: This article, or parts of it, was generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Sheldon Reback is CoinDesk editorial’s Regional Head of Europe. Before joining the company, he spent 26 years as an editor at Bloomberg News, where he worked on beats as diverse as stock markets and the retail industry as well as covering the dot-com bubble of 2000-2002. He managed the Bloomberg Terminal’s main news page and also worked on a global project to produce short, chart-based stories across the newsroom. He previously worked as a journalist for a number of technology magazines in Hong Kong. Sheldon has a degree in industrial chemistry and an MBA. He owns ether and bitcoin below CoinDesk’s notifiable limit.
“CoinDesk Bot” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy here.
