NewsletterCertiK Ventures Unveils $45M War Chest: Is Web3 Security the Next Big Bet?
Highlights
- CertiK invests in Web3 security.
- CertiK actively combats crypto threats.
- Recent exploit highlights need for Web3 security.
The investment arm of CertiK is looking to expand Web3 adoption and has made a significant, multimillion-dollar investment in fostering new initiatives in the industry called Certik Ventures.
On September 19, CertiK Ventures announced a $45 million investment intended to nurture high-potential projects to bring more integration and security to the Web3 ecosystem.
CertiK Expands Web3 Security Reach: $45M, Law Enforcement Ties
This move comes after CertiK announced the official launch of its venture arm back in May 2024. The venture division will commit resources to strategic investments in fast-developing blockchain projects while leveraging the profound expertise of CertiK in blockchain security.
Next to that, besides the strong involvement with the biggest industry players, CertiK has been in very close cooperation with law enforcement ever since, sharing evidence related to alleged crimes and other findings obtained via Know Your Customer verifications.
Recently, CertiK detected a security vulnerability of LI.FI-a cross-chain transaction aggregator. According to the notice published in the Cybers Alerts channel, several suspicious transactions have been detected, and it is suggested that users cancel them. Meanwhile, the hacker has already managed to withdraw more than $9.7 m.-most in stablecoins-and continued converting USDC and USDT into ETH.
CertiK Ventures Alert: Real-Time Crypto Threat Detection
CertiK claims to have delivered security services for over 4,700 projects across 150 countries in cooperation with leading Web3 networks and companies, including The Open Network, Ripple, Aptos, and Binance.
CertiK Alert is a market monitoring tool focused on tracking and regularly updating the ecosystem regarding cryptocurrency hacks, scams, flash loans, and other emerging threats with the goal of protecting investors.
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