BlockSec raises $8 million to expand its research and production team
Blockchain security startup BlockSec announced the completion of the seed plus funding round with $8M raised.
The funding round was co-led by Vitalbridge Capital and Matrix Partners, with participation from investors Mirana Ventures (Venture Partner of Bybit), CoinSummer, and YM Capital.
Founded in 2021, BlockSec’s mission is to provide security infrastructure for the entire blockchain ecosystem. With cutting-edge technologies, BlockSec enhances the security of decentralized applications, detects high-impact blockchain vulnerabilities, and blocks sophisticated security attacks.
Since last year, BlockSec has provided security audit services to more than one hundred clients, in both Solidity and Rust ecosystems. BlockSec has developed a real-time on-chain monitoring system to block ongoing attacks and rescued more than 5 million assets, including 3.8 million for the stablecoin DEX Saddle Finance.
BlockSec has identified multiple critical vulnerabilities on the Solana blockchain, with nearly one million bug US dolloar bounty awarded. Also, the flash loan monitoring system and the transaction visualization system developed by BlockSec are two public tools widely used by the blockchain security community.
With the raised funding, BlockSec plans to expand its research and production team and provide the on-chain monitoring and attack interception capability to more decentralized applications.