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Blockchain security startup snags $2.1M to protect organisations from online scams


A Los Angeles-based security company, Shield, has raised $2.1 million in pre-seed funding from Kraken Ventures, Eterna Capital, Alchemy, Moonpay, and several other leading investors.

Shield aims to revolutionise internet security by developing products encouraging growth and innovation while maintaining the highest security standards. It was founded by Luis Carchi (Princeton University, former Facebook employee), Isaiah Udotong (MIT, Y-Combinator alumni), and Emmanuel Udotong (Princeton University, formerly McKinsey).

Crypto security landscape

Shield helps organisations adopt comprehensive security measures to prevent crypto exploits and increase user trust across the ecosystem.

Surveying the crypto security landscape, smart contracts have been the primary focus; however, 1 in 3 crypto attacks aren’t related to contracts and instead are triggered by compromised private keys or front-end spoofing. Therefore, auditing and monitoring your smart contract alone is not enough. To fill the gap, Shield is developing automated protections against frequently neglected attack vectors.

The Shield security stack can be integrated into any product via API and protects 350,000+ users, including Fox Sports, Rarible, and “Shield is one of our most popular integrations on Guild,” mentions a software engineer.

The company provides advanced security solutions worldwide to businesses across a variety of industries with a focus on emerging threats.

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