ICYMI: CertiK raises additional $60 million from SoftBank and Tiger Global
CertiK adds $60 million to its coffers amid an increase in crypto hacks.
The new round is an extension of the Series B3 round because there was demand from investors, CertiK co-founder Ronghui Gu told The Block."Series B3 is oversubscribed. Considering the enthusiasm of investors, we managed to facilitate this extension," he said.Tiger Global are the only two backers involved in the extension round, Gu said. It was SoftBank's first investment in a blockchain security firm, according to CertiK.
So far this year, more than $1 billion in crypto has been lost amid major DeFi hacks, including the Ronin Network and Wormhole. Still, attacks have occurred even after projects have been audited by firms like CertiK.Gu said that an audit by CertiK is not a"certificate" or an"endorsement that a project is safe" from hacks. It is just a report of vulnerability findings with recommendations.
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