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Security infrastructure firm Firewall raises $3.7 million in pre-seed funding
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Quick Take
- North Island Ventures, Breyer Capital and Hack VC co-led a $3.7 million pre-seed funding round for the blockchain security firm Firewall.
- Firewall will use the funds to grow its team of six employees, develop its tech and bolster community building and marketing endeavors.
"Blockchain consensus is meant to formalize social consensus into programmatic rules. We know it's already a social consensus that smart contract exploits shouldn't be accepted as valid state transitions, you see this clearly after every exploit," the firm's co-founder Devan Purhar told The Block. "Do people refer to the Kyber 'transactions' that netted $50 million? No, instead it's the 'Kyber exploit,' synonymous with theft. That's why we're updating blockchain consensus to correctly reflect this mechanically." Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.
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