Wednesday, September 25, 2024 – Web3 auditing firm CertiK has launched a $45 million investment initiative through its newly launched venture arm, CertiK Ventures.
The investment will support the development of in-house security products and fund other opportunities in the growing digital asset security space.
CertiK, valued at $2 billion and backed by investors such as Sequoia Capital and Goldman Sachs, plans to roll out two free security tools: Token Scan and Wallet Scan. These tools aim to help users protect their assets from malicious tokens and fraudulent wallet codes.
CertiK’s venture launch was announced during the Token2049 conference, marking the firm’s expansion of its full-chain security solutions. CertiK has already worked with over 4,700 projects globally, including notable names like Ripple, Aptos, and Binance.
However, CertiK has faced controversy. In June, the firm withdrew $3 million from Kraken after discovering a vulnerability but delayed notifying the exchange, leading to accusations of front-running bug bounty programs.
Despite these concerns, CertiK Ventures’ latest initiative aims to strengthen Web3 security and empower users with better protection tools.
