CertiK Ventures, the venture arm of the leading blockchain security platform CertiK, has unveiled an ambitious $45 million investment plan to accelerate Web3 adoption and enhance security across the blockchain ecosystem.
On September 19, 2024, CertiK Ventures announced its multimillion-dollar investment initiative aimed at bolstering the development of high-potential Web3 projects. The investment plan will span from the fourth quarter of 2024 through 2025, with the goal of funding innovative Web3 projects that focus on security, scalability, and sustainable business models.
Focus on Security and Infrastructure
As part of the investment strategy, CertiK Ventures will prioritize projects that are reliable in terms of security and technology. The firm intends to support Web3 companies that not only show promise in terms of business growth but also have a proven track record in building secure and scalable infrastructure. This aligns with CertiK’s overarching mission to ensure the safe adoption of blockchain technologies.
Since its official launch in May 2024, CertiK Ventures has been working to channel its vast experience in blockchain security into the Web3 ecosystem. The company’s security-first approach will be a key pillar of its investments, helping to foster the creation of more secure decentralized applications (dApps) and blockchain protocols.
New Community Security Tools Launched
At the same time as the investment announcement, CertiK unveiled a suite of free security tools designed for the Web3 community at the Token2049 event in Singapore on September 19, 2024. These tools—Token Scan and Wallet Scan—are aimed at empowering users to safeguard their assets and minimize the risk of scams in the decentralized finance (DeFi) space.
- Token Scan: This tool allows users to perform instant security checks on tokens, detecting scams and fraudulent projects on networks like Solana.
- Wallet Scan: This tool helps users assess whether their crypto wallets are exposed to risks such as approval vulnerabilities, suspicious transactions, or phishing attempts.
The tools were developed by CertiK based on its extensive experience in white-hat hacking and blockchain security. The firm has carried out over 70 white-hat operations, reported more than 4,000 security incidents, discovered 115,000 code vulnerabilities, and helped protect $360 billion in assets.
Backed by Major Investors and Industry Leaders
Founded in 2018 by professors from Yale University and Columbia University, CertiK has quickly established itself as a leader in the blockchain security industry. The firm has raised significant backing from a range of high-profile investors, including:
- Goldman Sachs
- Insight Partners
- Sequoia Capital
- Tiger Global
Additionally, CertiK has secured partnerships with major exchanges such as Binance and Coinbase. By 2022, CertiK reached a valuation of $2 billion and has since grown to serve over 4,700 projects across 150 countries.
CertiK’s market monitoring platform, CertiK Alert, regularly updates the community on cryptocurrency hacks, scams, and flash loan attacks, aiming to protect investors by offering real-time insights into security threats in the blockchain ecosystem.
Collaborations with Law Enforcement
In addition to its work with industry players, CertiK is actively collaborating with law enforcement to share security intelligence and evidence related to cryptocurrency crimes. This includes Know Your Customer (KYC) verifications and investigations into bad actors attempting to exploit blockchain technologies for illicit purposes.
Aiming for a Secure Web3 Future
As Web3 continues to evolve, CertiK Ventures is positioning itself at the forefront of blockchain security and Web3 innovation. With its focus on security and infrastructure combined with its new $45 million investment plan, CertiK is well-positioned to drive the growth of safe, secure Web3 ecosystems. The launch of Token Scan and Wallet Scan tools further enhances its commitment to protecting users and improving the overall security landscape of the blockchain industry.
As the Web3 space continues to expand, CertiK’s proactive approach will be instrumental in shaping a secure and scalable future for decentralized technologies, benefiting both developers and users alike.
