Digital asset cybersecurity startup Fireblocks announced its launch out of stealth mode with $16 million in funding, according to a press release shared with Cointelegraph on June 11.
Per the release, Fireblocks obtained the capital during its Series A funding round from Cyberstarts, Tenaya Capital, EightRoads, Swisscom Ventures and MState.
"Currently, Fireblocks is integrated with 15 digital asset exchanges and offers support for over 180 cryptocurrencies, tokens, and stablecoins."
The author of the release claims that over $3 billion in digital assets have been stolen by hackers in the past 18 months and cites the 7,000 bitcoins stolen from major crypto exchange Binance.
"While Blockchain based assets by themselves are cryptographically secure, moving digital assets is a nightmare. After interviewing over 100 institutional customers, including hedge funds, broker-dealers, exchanges, and banks, we concluded that the current process is slow and highly susceptible to cyber attacks and human errors."
Lastly, Shaulov claims that his startup created a platform which "Secures the process and simplifies the movement of funds into one or two steps."
As Cointelegraph reported yesterday, cryptocurrency wallet provider Komodo effectively hacked itself to prevent fraudsters from accessing its users' funds.
In May, Sean Coonce, engineering manager at cryptocurrency custodian BitGo, announced that he had fallen victim to a SIM swapping hack.
Digital Asset Security Startup Fireblocks Leaves Stealth Mode With $16 Million in Funding
gepubliceerd op Jun 11, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.