Stellar Partner Blockaid Raises $50 Million to Tackle On-Chain Threats

Stellar partner Blockaid, specializing in blockchain security, successfully secured $50 million in its Series B funding round, primarily led by Ribbit Capital and GV. The company plans to expand its research and engineering teams in response to increasing demand for blockchain security solutions from major financial institutions. Last year, Blockaid scanned over 2.4 billion transactions, blocking 71 million potential attacks. Their security network, integrating with wallets and dapps, protects users from malicious blockchain threats, which is critical for platforms like Stellar that depend on on-chain security. The funding will also advance their machine-learning capabilities and extend Blockaid’s offerings in a progressively adversarial digital environment. Stellar, among others, is expected to benefit from these enhanced security measures in safeguarding on-chain applications.