The encryption security platform Blockaid has completed a $50 million Series B funding round, led by Ribbit Capital

ChainCatcher news, according to Bloomberg, the crypto security platform Blockaid has recently completed a $50 million Series B funding round, led by Ribbit Capital, with participation from GV (formerly Google Ventures) and existing investors Variant and Cyberstarts. This funding will help Blockaid address the growing risks of cybercrime in the digital asset space.

In 2024, Blockaid successfully intercepted 71 million potential attacks, preventing losses of $5.3 billion. The company expects that as user growth and token prices rise, cyber attack incidents will surge to "hundreds of millions" in 2025. Blockaid plans to use this funding to expand operations and increase R&D investment, with expectations to double its workforce this year. The company's CEO Ido Ben-Natan stated that due to changes in the regulatory environment in the U.S., demand has surged, and the company is currently facing a staffing shortage challenge.