Cube3.ai, a crypto-centric security startup, has secured $8.2 million in seed funding to protect smart contracts from fraudulent transactions. Multiple investors contributed to the seed round, including Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures. Cube3 says it plans to invest the money in expanding the platform to improve web3 security and in spreading awareness about the dangers of weak transaction security.
Cube3.ai has invested in machine learning, which it employs to prevent malicious blockchain transactions in real-time. As of now, the company provides protection against attacks on Ethereum, BNB Smart Chain, Arbitrum, and Polygon blockchains. In addition, it plans to add support for Avalanche later this month. The company’s core offerings may be broken down into three categories: Detect, Protect, and Manage.
Those who deploy smart contracts will now be able to prevent malicious transactions in real time, ensuring that their apps will continue to function normally even as they deal with security issues. Cube3 also promises to continue working with its clients to prioritise new features and improve its machine learning algorithms through consultation and white hat hacking.
This post was last modified on Aug 09, 2023, 15:23 BST 15:23