{"id":179504,"date":"2023-10-23T20:44:14","date_gmt":"2023-10-23T15:14:14","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=179504"},"modified":"2023-10-23T20:44:14","modified_gmt":"2023-10-23T15:14:14","slug":"blockaid-raises-33-million-to-augment-blockchain-ecosystem-security-product-line-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/blockaid-raises-33-million-to-augment-blockchain-ecosystem-security-product-line-crypto-news\/","title":{"rendered":"Blockaid Raises $33 Million to Augment Blockchain Ecosystem Security Product Line – Crypto News"},"content":{"rendered":"
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Israeli Web3 security startup,\u00a0Blockaid has today\u00a0announced that it recently raised\u00a0$33 million in a VC-led\u00a0investment round.\u00a0 The round was co-led by Variant and Ribbit Capital, with Cyberstarts, Sequoia Capital, and Greylock Partners also participating.\u00a0For its customers\u2019 protection, Blockaid scans blockchains for wallets owned by malicious entities, then issues warnings against transacting\u00a0with those wallets.<\/p>\n

Blockaid is a blockchain-agnostic solution\u00a0founded in 2022 by former members of the Israel Defence Force.\u00a0 As part of its strategy to align itself with major industry players\u00a0to provide security solutions for Web3 applications and shield customers from fraudulent transactions, Blockaid has\u00a0partnered with\u00a0MetaMask, and also has OpenSea among its clients.<\/p>\n

The startup received start-up capital and quickly began collaborating with industry leaders to address the most difficult security challenges in the blockchain ecosystem, such as\u00a0malicious attacks.<\/p>\n

A look at Blockaid\u2019s security functionality<\/h2>\n

Blockaid primarily protects users from three kinds of security threats: phishing, fraud and hacks. In addition to identifying harmful DApps, its security solution can also mimic off-chain signatures (EIP-712s) in full. The company says it intends to use the new to expand its blockchain security product line. This, it says, will strengthen the industry\u2019s defences against hackers and frauds.<\/p>\n

Blockaid offers two types of security\u00a0solutions. The first is its decentralised application (dApp) scanning engine. The solution works by\u00a0simulating all possible user activities in a dApp and deciding whether or not the actions themselves or the dApp are malicious.<\/p>\n

The second solution is the decentralised application scanning sandbox. The solution offers\u00a0a risk-free environment for simulating user interactions with a decentralised application. A dApp is immediately labelled as a threat if even a single transaction within the sandbox is determined to be risky. Ultimately, this protects\u00a0any user who relies on Blockaid from the dangers posed by the malicious dApp.<\/p>\n

According to the startup,\u00a0its solution does more than only prevent sophisticated attacks on blockchains; it also protects regular users. The system checks every interaction a wallet has with a decentralised application or a smart contract and analyses it for risk.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Israeli Web3 security startup,\u00a0Blockaid has today\u00a0announced that it recently raised\u00a0$33 million in a VC-led\u00a0investment round.\u00a0 The round was co-led by Variant and Ribbit Capital, with Cyberstarts, Sequoia Capital, and Greylock Partners also participating.\u00a0For its customers\u2019 protection, Blockaid scans blockchains for wallets owned by malicious entities, then issues warnings against transacting\u00a0with those wallets. Blockaid is a […]<\/p>\n","protected":false},"author":2,"featured_media":179505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-179504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=179504"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179504\/revisions"}],"predecessor-version":[{"id":179506,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/179504\/revisions\/179506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179505"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=179504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=179504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=179504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}