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BlockSec Closes Seed Plus Funding Round with $8M Raised

July 12, 2022

We are thrilled to announce that BlockSec has closed 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 [1]. 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 [2] and the transaction visualization system [3] 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.

[1]https://www.theblock.co/linked/144491/stablecoin-dex-saddle-finance-hacked-for-10-million

[2]https://versatile.blocksecteam.com/flashloan/eth

[3]https://versatile.blocksecteam.com/tx

About BlockSec

BlockSec is a pioneering blockchain security company established in 2021 by a group of globally distinguished security experts. The company is committed to enhancing security and usability for the emerging Web3 world in order to facilitate its mass adoption. To this end, BlockSec provides smart contract and EVM chain security auditing services, the Phalcon platform for security development and blocking threats proactively, the MetaSleuth platform for fund tracking and investigation, and MetaSuites extension for web3 builders surfing efficiently in the crypto world.

To date, the company has served over 300 esteemed clients such as MetaMask, Uniswap Foundation, Compound, Forta, and PancakeSwap, and received tens of millions of US dollars in two rounds of financing from preeminent investors, including Matrix Partners, Vitalbridge Capital, and Fenbushi Capital.

Official website: https://blocksec.com/

Official Twitter account: https://twitter.com/BlockSecTeam

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