Jamie Crawley is a CoinDesk news reporter based in London.
Blockaid, a Web3 security company used by firms like Metamask and Opensea, has raised a $27 million Series A led by Ribbit Capital and Variant.The New York and Tel Aviv-based company said it would use the funding to scale its product, customer base and team to address the industry’s security challenges, which it described as “never-ending” in an emailed announcement on Monday.
Blockaid offers a security layer that can scan every transaction from a wallet or interact with a decentralized app or a smart contract and is compatible with any blockchain network. The firm claims to have scanned 450 million transactions, thwarted 1.2 million malicious transactions and safeguarded $500 million in user funds that would have been otherwise compromised in the last three months alone.
Nearly $700 million was lost across 184 incidents in Q3 of 2023, more than the entire first half of the year ,The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a.
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