Blockaid, a blockchain security firm, has raised $50 million in Series B funding led by Ribbit Capital, with participation from GV and existing investors. The company plans to use the funds to expand its research and engineering teams to meet the growing demand for blockchain security from financial institutions and Web3 companies.
According to Blockaid, it scanned over 2.4 billion transactions and blocked 71 million attacks last year. The company provides real-time threat detection for blockchain transactions and integrates directly with wallets and decentralized applications to secure users from malicious actors.
CEO Ido Ben-Natan stated that while the blockchain itself is secure, on-chain applications and the users that interact with them are at risk. The investment will help the company advance its machine learning capabilities and expand its 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 comes as blockchain activity surges, with stablecoin transaction volume reaching $8.5 trillion in the latter half of 2024.
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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 European Central Bank and the Bank of England.
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