Blockaid completes a $50 million Series B financing round, led by Ribbit Capital

PANews reported on February 18 that according to Bloomberg, crypto security platform Blockaid recently completed a $50 million Series B financing led by Ribbit Capital, with GV (formerly Google Ventures) and existing investors Variant and Cyberstarts. The financing will help Blockaid deal with the growing risk of cybercrime in the digital asset space. In 2024, Blockaid successfully intercepted 71 million potential attacks, avoiding $5.3 billion in losses. The company expects cyber attacks to surge to “hundreds of millions” in 2025 as users grow and token prices rise. Blockaid plans to use the funds to expand operations and increase R&D investment, and is expected to double its staff this year. Ido Ben-Natan, CEO of the company, said the company is currently facing the challenge of understaffing due to a surge in demand due to changes in the U.S. regulatory environment.