Blockaid Raises $33 Million to Prevent Crypto Fraud and Hacks!

Web3 security startup Blockaid, co-founded by two former Israeli military cyber intelligence operatives, has come out of stealth mode with $33 million in funding. The firm’s Web3 security tools aim to prevent crypto fraud, phishing, and hacks. Blockaid’s dApp Scanning Engine simulates all possible user interactions on any dApp, validating whether the interactions and the dApp itself are malicious, co-founder and CEO Ido Ben-Natan said. The firm has scanned more than 450 million transactions, preventing over 1.3 million attacks, protecting $7.1 billion worth of assets, and averting losses of over $500 million, according to Ben-Natan.