Blockaid Raises $50M to Combat Growing Crypto Threats

Blockaid, a leading cryptocurrency security platform, has successfully raised $50 million in a Series B funding round, with Ribbit Capital as the lead investor. The round also saw participation from GV (formerly Google Ventures) and existing investors Variant and Cyberstarts. This significant investment will enable Blockaid to address the escalating network security risks in the digital asset space.

In 2024, Blockaid demonstrated its prowess by blocking 71 million potential attacks, preventing approximately $5.3 billion in losses. As user growth and token prices continue to rise, the company anticipates a surge in network attack events, potentially reaching "hundreds of millions" in 2025. To tackle this challenge, Blockaid plans to expand its operations and increase research and development investment, aiming to double its workforce this year.

Ido Ben-Natan, CEO of Blockaid, acknowledged the current staffing shortage due to regulatory changes in the United States and increased demand. The company is committed to addressing this issue and strengthening its team to better serve the growing needs of the digital asset community.