Home Production team BlockSec raises $8 million to expand its research and production team

BlockSec raises $8 million to expand its research and production team

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Blockchain security startup BlockSec has announced the completion of seed funding and funding round with $8 million 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. Using cutting-edge technologies, BlockSec improves the security of decentralized applications, detects high-impact blockchain vulnerabilities, and blocks sophisticated security attacks.

Since last year, BlockSec has provided security auditing services to over a hundred clients, across the Solidity and Rust ecosystems. BlockSec developed a real-time on-chain monitoring system to block ongoing attacks and rescued over 5 million assets, including 3.8 million for stablecoin DEX Saddle Finance.

BlockSec has identified several critical vulnerabilities on the Solana blockchain, with nearly one million USD bugs attributed. Moreover, 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 funding raised, BlockSec plans to expand its research and production team and bring the ability to monitor and intercept chain attacks to more decentralized applications.