MetaMask security partner Blockaid secures $33M funding

Blockaid, a blockchain security startup and partner of the MetaMask cryptocurrency wallet, has secured $33 million in funding to scale its technology designed to stop malicious transactions.

The Series A funding round for Blockaid was led by major industry venture capital firms, including Coinbase investor Ribbit Capital and the early-stage VC firm Variant. Other funding members included Sequoia Capital, Cyberstarts and Greylock Partners.

Announcing the news on Oct. 23, Blockaid also said its security platform is coming out of stealth with its inaugural customers like MetaMask, the OpenSea marketplace, the Rainbow wallet and the Zerion wallet. The startup has formed a strategic alliance aiming to provide security solutions for Web3 applications and protect users from malicious transactions.

MetaMask previously disclosed that it was collaborating with Blockaid and OpenSea in April 2023 to enable an experimental feature that would warn users when interacting with “known scams.”

“Users that opt in to the feature will benefit from OpenSea’s blocklist of known scams, as well as Blockaid’s analysis of malicious behaviors like signature farming and wallet draining,” the firm said at the time.

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