CyVers is developing agentless, plug-and-play, scalable, and highly accurate solutions to detect suspicious behavior
CyVers, an Israeli provider of state-of-the-art proactive Web3 Security for the centralized, decentralized finance and smart contract applications via detection and interception of crypto attacks across blockchains, announced an $8 million in funding led by Elron Ventures. This funding is joined by Crescendo Venture Partners, Differential Ventures, HDI, Cyber Club London, and Cyber Future.
CyVers, who was founded earlier this year by Deddy Lavid and Meir Dolev, is developing agentless, plug-and-play, scalable, and highly accurate solutions to detect suspicious behavior.
This allows CyVers to capture transactions during the few moments between the time a transaction is broadcasted and when it is registered irreversibly to a block chain ledger.
CyVers has already secured customers such as Bit2C, Solidus Capital, and CoinMama, among others. “CyVers’ platform collects cross-blockchain data, streaming it to our sophisticated monitoring system,” said Meir Dolev, Co-founder & CTO.
“Our analytics engine predicts evolving attacks while autonomously understanding attacker behaviors. These include smart contract exploits, private key leakage, Flash loans, etc. Once it detects the evolution of an exploit pattern, the AI system generates alerts while providing enough time to act and the best-known solution, before the exploitation and money laundering progresses.”
Moving away from blacklists, code auditing, and fund tracing, CyVers identifies cyber-attacks and carries out corrective measures within milliseconds. “We screened many teams in the web3 cybersecurity space. We feel privileged to partner with Deddy and Meir, second-time entrepreneurs that blend expertise from block chain security with graph neural networks, and DeFi trading," said Elik Etzion, Managing Partner at Elron Ventures.
"CyVers will dramatically reduce the number of attacks and bring a safer crypto economy. “Together, we are enabling a world of a trustworthy and transparent Web3.”