Blowfish provides a transaction-scanning service that detects malicious intent on behalf of wallets and submits safe transactions to the network, adding an extra layer of protection against phishing and hijacking. Its technology includes an API with warning symbols and guidance so crypto users can make safer transactions. The startup has integrated with Phantom and, since that integration, has scanned over 125 million proposed transactions and prevented over 11,000 wallet-draining transactions from being signed. The company cites the broader need for such tools given that $1.9 billion of cryptocurrency was stolen in the first seven months of 2022. Blowfish plans to use the new capital to upgrade its fraud detection engine on Solana, Ethereum, and Polygon, expand to additional blockchains, and hire a team dedicated to eliminating scams and hacks from Web3. The recent financing provides resources to scale its security tooling and partnerships.

Total raised

$12M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2022