Crypto security startup Blockaid raises $50 million Series B to battle rising threats
The company's AI-driven platform has blocked 71 million attack attempts in the past year.
Blockaid, a crypto security platform, has raised $50 million in a Series B funding round led by Ribbit Capital, with participation from existing investors, including Variant and Cyberstarts. This round follows a $27 million Series A in October 2023, led by Ribbit Capital and Variant, with participation from Greylock, Sequoia, and Cyberstarts. In just one year since emerging from stealth, Blockaid has secured a total of $83 million in funding.
In a conversation with Calcalist, Raz Niv, the company's CTO, said, "We grew tenfold in a year and continue at a similar pace. We expanded from 20 employees to 70 and expect to double our workforce by the end of the year."
Blockaid was founded in 2022 by Ido Ben-Natan and Niv, who met during their military service in Unit 8200. They went on to work as Cyber Security R&D Team Leads at the Office of the Prime Minister of Israel, winning the prestigious Israel Defense Prize.
Niv added, "We provide security services for blockchain transactions. We analyze every transaction to determine if there is a risk of financial loss. The crypto world is rife with attacks aimed at stealing money, and companies rely on us to safeguard their processes. Our customers span every possible profile. We monitor transactions, ensuring they proceed only when their risks are fully understood.
"We protect assets worth $100 billion and have prevented approximately $5 billion in losses. Many of the attacks we see are backed by state-sponsored groups, while others come from cybercriminals. Various military units now focus on crypto because every successful attack directly translates into financial gain, making it different from other cyber threats," he explained.
"In cybersecurity, there are many categories, but we are operating in a new space. We are facing a wave of attackers for the first time, and they are already trying to circumvent our solutions—some even increasing their budgets to do so. Fortunately, there are very few instances where they succeed."
As blockchain adoption grows, security challenges are becoming more complex. Initially, blockchain was primarily used for cryptocurrencies like Bitcoin, but recent advancements now enable the development of decentralized systems, such as investment funds that operate without a central authority. However, this decentralized structure makes oversight difficult and fraud prevention even harder, as transactions cannot be reversed. At the same time, the rapid growth of the crypto market and the vast amounts of money involved attract malicious actors who leverage advanced technologies, including AI, for increasingly sophisticated attacks. These challenges threaten assets and infrastructure, creating a significant barrier to mainstream adoption.
According to Blockaid, in 2024 alone, over $1.4 billion was stolen from end users, with hundreds of millions more lost in attacks on companies and infrastructure—vulnerabilities that undermine market trust and hinder growth.
To combat these threats, Blockaid has developed a unified platform that monitors, detects, and automatically responds to fraud and attacks on infrastructure, assets, and end users. The platform provides exclusive access to the largest repository of real-time transaction data through integrations with leading Web3 wallets, allowing it to identify and neutralize new threats in advance.
In the past year, Blockaid’s platform scanned more than 2.4 billion transactions and analyzed over 787 million interactions with decentralized applications (dApps). It also identified and blocked more than 71 million attack attempts, preventing more than $5.3 billion in potential losses while protecting over $101 billion in assets.
Blockaid's platform protects industry leaders, including Coinbase, MetaMask, Uniswap, World App, Stellar, dYdX, Starknet, Ava Labs, Safe, and Immutable.
