Former Israeli Military Intelligence personnel have launched a new cryptocurrency firm called Blockaid, which has received $33 million in funding. The company aims to protect users from fraud, phishing, and hacks in the Web3 space. Blockaid plans to use the funds to grow the company, expand its product, customer base, and team. The company has already revealed some of its initial customers, including Metamask, Opensea, Rainbow, and Zerion. Blockaid ensures security by validating transactions before they occur, allowing users to trust wallets, decentralized applications (dapps), and smart contracts. The company claims to be compatible with all blockchains and can simulate off-chain signatures effectively. It has scanned 450 million transactions in the last three months and prevented 1.2 million malicious transactions, safeguarding $500 million in user funds. Blockaid was founded by two former Israeli military cyber intelligence personnel and currently employs over 20 security experts from the same background.
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