Cube3.ai, a cryptocurrency-focused security startup that protects smart contracts by blocking malicious transactions, has recently emerged from stealth mode after raising $8.2 million of seed funding. The round was led by Blockchange Ventures and included participation from Dispersion Capital, Symbolic Capital, Hypersphere Ventures, ICLUB, and TA Ventures.
When there’s a wave of innovation, typically a wave of crime comes with it, said Cube3.ai founder and CEO Einaras Gravrock. This motivated Gravrock to create a system that checks crypto transactions in real-time, using machine learning and pattern matching to give newly deployed smart contracts a risk score. This allows contracts and applications to decline exploits as they are being proposed, allowing them to process legitimate transactions.
It means contracts and applications can carry on processing legitimate transactions, so it’s a bit like a guardian angel is watching over your contract, said Gravrock in an interview with journalists.