CertiK’s venture arm is undertaking a $45 million-dollar investment to encourage the adoption of Web3 in new industry initiatives.
An announcement shared with Cointelegraph indicates that CertiK Ventures initiated a $45 million investment plan on Sept. 19 to advance high-potential Web3 projects. The strategy’s objective is to expedite the integration and security of the Web3 ecosystem.
Following the official introduction of its venture arm in May 2024, CertiK made the announcement a few months later. The arm’s objective is to support emerging blockchain platforms by leveraging CertiK’s extensive experience in blockchain security.
CertiK debutes free community security tools at Token2049
CertiK Ventures also disclosed an enhancement to its Web3 services during the Token2029 event in Singapore on Sept. 19.
Additionally, the blockchain security firm introduced free community security tools, such as Wallet Scan and Token Scan, to assist users in protecting their assets.
Specifically, CertiK’s Token Scan tool offers instantaneous token security tests to identify scams on networks such as Solana.
Wallet scans enable users to determine whether their wallets are susceptible to risks such as suspicious transactions, authentication vulnerabilities, and interactions with phishing web addresses.
Based on its extensive experience conducting over 70 white hat operations, reporting over 4,000 security incidents, discovering 115,000 code vulnerabilities, and safeguarding approximately $360 billion in assets, CertiK developed the Token Scan and Wallet Scan tools.
CertiK has prominent investors-backing
Founded in 2018 by Columbia University and Yale University academics, CertiK has become a critical platform in the blockchain security sector.
Prominent investors backed the company, such as the United States banking giant Goldman Sachs, Insight Partners, Sequoia Capital, and Tiger Global, and significant exchanges like Binance and Coinbase. The company achieved a $2 billion valuation within a few years of its establishment in 2022.
CertiK is also collaborating closely with law enforcement to share evidence of the alleged offenses and details collected during Know Your Customer verifications and close collaborations with industry companies.
CertiK has rendered security services to over 4,700 initiatives in 150 countries, including Web3 networks and organizations such as The Open Network (TON), Ripple, Aptos, and Binance.
CertiK Alert, the market monitoring tool, aims to safeguard investors by routinely providing updates on cryptocurrency hacks, scams, and flash loans.
