Cybersecurity-focused Halborn raises $90 million

The Miami-based Halborn closed its Series A round of $90 million.

The lead investor was Summit Partners, with participation from Castle Island Ventures, Digital Currency Group and hedge fund Brevan Howard. The startup did not disclose its valuation following the round.

Halborn CEO Rob Benke told Bloomberg that the project’s focus on cybersecurity “gives it some immunity to crypto winter.”

“The price of cryptocurrencies has nothing to do with our business. What matters is that the whole industry is growing,” said the executive.

He also drew attention to hackers’ activity targeting digital assets. Halborn currently works with Coinbase, Solana and Ava Labs. The firm also advises Amazon, BNY Mellon, Nike, family offices and venture investors on risk reduction.

“They really want to make sure they aren’t hacked and they don’t lose all their money,” Benke said.

In June, researchers from Halborn discovered a vulnerability in most browser wallets, including MetaMask. The latter’s developers fixed the issue in the new version.

Earlier, deBridge’s cross-chain interoperability and liquidity transfer team said the product passed a security audit by Halborn.

As noted, in Q1 2022 hackers and scammers drained from various protocols more than $1.22 billion. The largest incidents were Wormhole and Ronin — at $319 million and $625 million respectively.

In the second quarter, total crypto-project losses from hacks and fraud exceeded $670 million.

According to Atlas VPN, since the start of the year hackers targeting the industry stole assets totaling $1.97 billion.

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