Is Web3 Security the Next Big Bet?

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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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.