Blockaid, MetaMask security partner, raises $33 million

The Blockaid startup closed its Series A funding round of $33 million with participation from Ribbit Capital and Varian. Partner MetaMask and OpenSea will continue to scale the technology, with a focus on preventing malicious transactions.

The round also included investments from Sequoia Capital, Cyberstarts and Greylock Partners.

The team announced that its platform has exited stealth mode. It is compatible with any blockchain.

Beyond MetaMask and OpenSea, Rainbow and Zerion wallet developers have used the toolkit.

In these dapps there is a corresponding fraud-warning feature. The solution analyses on-chain history for malicious behaviour such as signature forgery and unauthorised withdrawal of assets from wallets.

Blockaid has formed a strategic alliance to provide technologies for securing Web3-applications.

The company said that over the last three months the platform analysed 450 million transactions, of which 1.2 million were malicious. As a result, it prevented the compromise of $500 million of user funds.

As reported in September, Certik experts estimated phishing losses at $25 million, and losses from all kinds of illicit activity at $329.8 million (a year-to-date record).

Earlier, Beosin specialists calculated that losses from attacks and scams in the third quarter amounted to $889 million.