Blockaid aims to protect individuals and businesses from rising cyber threats in the cryptocurrency space, which has become a growing concern as digital assets gain popularity.

The company's web3 security platform scans, simulates, and validates transactions to protect users against scams, fraud, and phishing.

The new investment will be allocated to enhance research and development, engineering, product expansion, and marketing efforts to meet the increasing demand for onchain security tools.

The Series B funding round reflects strong investor confidence in Blockaid's approach to cybersecurity, particularly in the rapidly evolving blockchain and cryptocurrency markets.

In 2024, Blockaid's platform scanned over 2.4 billion transactions and successfully blocked 71 million attacks, reinforcing its commitment to securing blockchain transactions.

Blockaid specializes in real-time threat detection for blockchain transactions, integrating with wallets and decentralized applications to safeguard users from cyber threats.

Blockaid, an onchain security platform, has successfully raised $50 million in Series B funding, led by Ribbit Capital, with participation from GV, Variant, and Cyberstarts.

Since its inception in 2023, Blockaid has raised a total of $83 million and claims to have safeguarded over $101 billion in assets while preventing more than $5.3 billion in potential losses.

The platform's capabilities are particularly critical in light of incidents like the July 2024 attack on Compound Finance, which highlighted vulnerabilities in the decentralized finance sector.

Cyberattacks on blockchain technology and Web3 applications resulted in $456 million in losses in 2024 due to smart contract vulnerabilities, underscoring the urgent need for security measures.

Blockaid's solution offers extensive real-time transaction data, advanced machine learning for threat detection, internet-wide monitoring for risks, and end-to-end security protections.

CEO Ido Ben-Natan emphasized the necessity of enhanced machine learning capabilities to combat evolving threats in a highly adversarial landscape as blockchain adoption grows.